UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

 

FORM 10-Q

 

(Mark One)

x

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For The Quarterly Period Ended June 30, 2015

OR

¨

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Commission File Number: 814-00702

 

HERCULES TECHNOLOGY GROWTH

CAPITAL, INC.

(Exact Name of Registrant as Specified in its Charter)

 

 

Maryland

 

743113410

(State or Jurisdiction of

Incorporation or Organization)

 

(IRS Employer

Identification No.)

 

400 Hamilton Ave., Suite 310

Palo Alto, California

(Address of Principal Executive Offices)

 

94301

(Zip Code)

 

(650) 289-3060

(Registrant’s Telephone Number, Including Area Code)

Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter periods that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes  x    No  ¨

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this Chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).    Yes  ¨    No  ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer

 

x

  

Accelerated filer

 

¨

 

 

 

 

Non-accelerated filer

 

¨

  

Smaller reporting company

 

¨

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes  ¨    No   x

On August 3, 2015, there were 72,439,850 shares outstanding of the Registrant’s common stock, $0.001 par value.

 

 

 

 


 

HERCULES TECHNOLOGY GROWTH CAPITAL, INC.

FORM 10-Q TABLE OF CONTENTS

 

PART I. FINANCIAL INFORMATION

  

3

 

Item 1.

 

 

Consolidated Financial Statements

  

3

 

 

 

Consolidated Statement of Assets and Liabilities as of June 30, 2015 (unaudited) and December 31, 2014

  

3

 

 

 

Consolidated Statement of Operations for the three and six month periods ended June 30, 2015 and 2014 (unaudited)

  

5

 

 

 

Consolidated Statement of Changes in Net Assets for the three and six month periods ended June 30, 2015 and 2014 (unaudited)

  

6

 

 

 

Consolidated Statement of Cash Flows for the six month periods ended June 30, 2015 and 2014 (unaudited)

  

7

 

 

 

Consolidated Schedule of Investments as of June 30, 2015 (unaudited)

  

8

 

 

 

Consolidated Schedule of Investments as of December 31, 2014

  

22

 

 

 

Notes to Consolidated Financial Statements (unaudited)

  

36

Item 2.

 

 

Management’s Discussion and Analysis of Financial Condition and Results of Operations

  

65

Item 3.

 

 

Quantitative and Qualitative Disclosures About Market Risk

  

105

Item 4.

 

 

Controls and Procedures

  

106

 

PART II. OTHER INFORMATION

  

107

 

Item 1.

 

Legal Proceedings

  

107

 

 

 

Item 1A. Risk Factors

  

107

Item 2.

 

 

Unregistered Sales of Equity Securities and Use of Proceeds

  

109

Item 3.

 

 

Defaults Upon Senior Securities

  

109

Item 4.

 

 

Mine Safety Disclosures

  

109

Item 5.

 

 

Other Information

  

109

Item 6.

 

 

Exhibits and Financial Statement Schedules

  

109

 

SIGNATURES

  

111

 

 

 

 

2


 

PART I: FINANCIAL INFORMATION

In this Quarterly Report, the “Company,” “Hercules,” “we,” “us” and “our” refer to Hercules Technology Growth Capital, Inc. and its wholly owned subsidiaries and its affiliated securitization trusts unless the context otherwise requires.

 

ITEM 1.

CONSOLIDATED FINANCIAL STATEMENTS

HERCULES TECHNOLOGY GROWTH CAPITAL, INC.

CONSOLIDATED STATEMENT OF ASSETS AND LIABILITIES

(unaudited)

(dollars in thousands, except per share data)

 

 

 

June 30, 2015

 

 

December 31, 2014

 

Assets

 

 

 

 

 

 

 

 

Investments:

 

 

 

 

 

 

 

 

Non-control/Non-affiliate investments (cost of $1,245,406 and $1,019,799, respectively)

 

$

1,228,202

 

 

$

1,012,738

 

Affiliate investments (cost of $15,600 and $15,538, respectively)

 

 

10,453

 

 

 

7,999

 

Total investments, at value (cost of $1,261,006 and $1,035,337, respectively)

 

 

1,238,655

 

 

 

1,020,737

 

Cash and cash equivalents

 

 

115,987

 

 

 

227,116

 

Restricted cash

 

 

11,810

 

 

 

12,660

 

Interest receivable

 

 

9,226

 

 

 

9,453

 

Other assets

 

 

20,875

 

 

 

29,257

 

Total assets

 

$

1,396,553

 

 

$

1,299,223

 

 

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

 

Accounts payable and accrued liabilities

 

$

12,977

 

 

$

14,101

 

Long-term Liabilities (Convertible Senior Notes)

 

 

17,399

 

 

 

17,345

 

Wells Facility

 

 

49,622

 

 

 

 

2017 Asset-Backed Notes

 

 

 

 

 

16,049

 

2021 Asset-Backed Notes

 

 

129,300

 

 

 

129,300

 

2019 Notes

 

 

150,364

 

 

 

170,364

 

2024 Notes

 

 

103,000

 

 

 

103,000

 

Long-term SBA Debentures

 

 

190,200

 

 

 

190,200

 

Total liabilities

 

$

652,862

 

 

$

640,359

 

 

 

 

 

 

 

 

 

 

Net assets consist of:

 

 

 

 

 

 

 

 

Common stock, par value

 

 

73

 

 

 

65

 

Capital in excess of par value

 

 

760,148

 

 

 

657,233

 

Unrealized depreciation on investments(1)

 

 

(24,238

)

 

 

(17,076

)

Accumulated realized gains on investments

 

 

16,137

 

 

 

14,079

 

Undistributed net investment income (Distributions in excess of net investment income)

 

 

(8,429

)

 

 

4,563

 

Total net assets

 

$

743,691

 

 

$

658,864

 

Total liabilities and net assets

 

$

1,396,553

 

 

$

1,299,223

 

 

 

 

 

 

 

 

 

 

Shares of common stock outstanding ($0.001 par value, 200,000,000 and 100,000,000 authorized, respectively)

 

 

72,493

 

 

 

64,715

 

Net asset value per share

 

$

10.26

 

 

$

10.18

 

 

(1)

Amounts includes $1.9 million in net unrealized depreciation on investments, other assets, and accrued liabilities including escrow receivables, estimated taxes payable, and Citigroup warrant participation agreement liabilities.

See notes to consolidated financial statements.

3


 

The following table presents the assets and liabilities of our consolidated securitization trusts for the asset-backed notes (see Note 4), which are variable interest entities (“VIE”). The assets of our securitization VIEs can only be used to settle obligations of our consolidated securitization VIEs, these liabilities are only the obligations of our consolidated securitization VIEs, and the creditors (or beneficial interest holders) do not have recourse to our general credit. These assets and liabilities are included in the Consolidated Statement of Assets and Liabilities above.

 

(Dollars in thousands)

 

June 30, 2015

 

 

December 31, 2014

 

Assets

 

 

 

 

 

 

 

 

Restricted Cash

 

$

11,810

 

 

$

12,660

 

Total investments, at value (cost of $226,338 and $296,314, respectively)

 

 

224,710

 

 

 

291,464

 

Total assets

 

$

236,520

 

 

$

304,124

 

 

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

 

Asset-Backed Notes

 

$

129,300

 

 

$

145,349

 

Total liabilities

 

$

129,300

 

 

$

145,349

 

 

See notes to consolidated financial statements.

4


 

HERCULES TECHNOLOGY GROWTH CAPITAL, INC.

CONSOLIDATED STATEMENT OF OPERATIONS

(unaudited)

(in thousands, except per share data)

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

2015

 

 

2014

 

 

2015

 

 

2014

 

Investment income:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-Control/Non-Affiliate investments

$

35,144

 

 

$

30,384

 

 

$

65,605

 

 

$

59,766

 

Affiliate investments

 

96

 

 

 

152

 

 

 

195

 

 

 

1,616

 

Total interest income

 

35,240

 

 

 

30,536

 

 

 

65,800

 

 

 

61,382

 

Fees

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-Control/Non-Affiliate investments

 

2,886

 

 

 

3,454

 

 

 

4,819

 

 

 

8,366

 

Affiliate investments

 

 

 

 

11

 

 

 

1

 

 

 

23

 

Total fees

 

2,886

 

 

 

3,465

 

 

 

4,820

 

 

 

8,389

 

Total investment income

 

38,126

 

 

 

34,001

 

 

 

70,620

 

 

 

69,771

 

Operating expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest

 

7,571

 

 

 

6,534

 

 

 

15,425

 

 

 

13,682

 

Loan fees

 

1,580

 

 

 

1,091

 

 

 

3,093

 

 

 

3,167

 

General and administrative

 

4,069

 

 

 

2,126

 

 

 

7,687

 

 

 

4,587

 

Employee Compensation:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Compensation and benefits

 

5,857

 

 

 

3,233

 

 

 

9,653

 

 

 

7,454

 

Stock-based compensation

 

2,267

 

 

 

2,466

 

 

 

4,987

 

 

 

4,026

 

Total employee compensation

 

8,124

 

 

 

5,699

 

 

 

14,640

 

 

 

11,480

 

Total operating expenses

 

21,344

 

 

 

15,450

 

 

 

40,845

 

 

 

32,916

 

Loss on debt extinguishment (Long-term Liabilities - Convertible Senior Notes)

 

(1

)

 

 

 

 

 

(1

)

 

 

 

Net investment income

 

16,781

 

 

 

18,551

 

 

 

29,774

 

 

 

36,855

 

Net realized gain (loss) on investments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-Control/Non-Affiliate investments

 

(1,254

)

 

 

2,470

 

 

 

2,058

 

 

 

7,343

 

Total net realized gain (loss) on investments

 

(1,254

)

 

 

2,470

 

 

 

2,058

 

 

 

7,343

 

Net increase in unrealized appreciation (depreciation) on investments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-Control/Non-Affiliate investments

 

(12,854

)

 

 

(4,378

)

 

 

(9,554

)

 

 

(5,418

)

Affiliate investments

 

79

 

 

 

(3,452

)

 

 

2,392

 

 

 

(3,404

)

Total net unrealized appreciation (depreciation) on investments

 

(12,775

)

 

 

(7,830

)

 

 

(7,162

)

 

 

(8,822

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total net realized and unrealized gain (loss)

 

(14,029

)

 

 

(5,360

)

 

 

(5,104

)

 

 

(1,479

)

Net increase in net assets resulting from operations

$

2,752

 

 

$

13,191

 

 

$

24,670

 

 

$

35,376

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net investment income before investment gains and losses per common share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

$

0.23

 

 

$

0.30

 

 

$

0.43

 

 

$

0.59

 

Change in net assets per common share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

$

0.03

 

 

$

0.21

 

 

$

0.35

 

 

$

0.57

 

Diluted

$

0.03

 

 

$

0.20

 

 

$

0.35

 

 

$

0.55

 

Weighted average shares outstanding

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

71,368

 

 

 

61,089

 

 

 

67,596

 

 

 

60,980

 

Diluted

 

71,593

 

 

 

62,588

 

 

 

67,901

 

 

 

62,642

 

Dividends declared per common share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

$

0.31

 

 

$

0.31

 

 

$

0.62

 

 

$

0.62

 

See notes to consolidated financial statements.

5


 

HERCULES TECHNOLOGY GROWTH CAPITAL, INC.

CONSOLIDATED STATEMENT OF CHANGES IN NET ASSETS

(unaudited)

(dollars and shares in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Undistributed

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

net investment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

income/

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unrealized

 

 

Accumulated

 

 

(Distributions

 

 

Provision for

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital in

 

 

Appreciation

 

 

Realized

 

 

in excess of

 

 

Income Taxes

 

 

 

 

 

 

Common Stock

 

 

excess

 

 

(Depreciation)

 

 

Gains (Losses)

 

 

investment

 

 

on Investment

 

 

Net

 

 

Shares

 

 

Par Value

 

 

of par value

 

 

on Investments

 

 

on Investments

 

 

income)

 

 

Gains

 

 

Assets

 

Balance at December 31, 2013

 

61,837

 

 

$

62

 

 

$

656,594

 

 

$

3,598

 

 

$

(15,240

)

 

$

5,335

 

 

$

(342

)

 

$

650,007

 

Net increase (decrease) in net assets

   resulting from operations

 

 

 

 

 

 

 

 

 

 

(8,822

)

 

 

7,343

 

 

 

36,855

 

 

 

 

 

 

35,376

 

Public offering, net of offering expenses

 

650

 

 

 

1

 

 

 

9,457

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

9,458

 

Issuance of common stock due to

   stock option exercises

 

104

 

 

 

 

 

 

1,342

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1,342

 

Retired shares from net issuance

 

(82

)

 

 

 

 

 

(1,237

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1,237

)

Issuance of common stock under

   restricted stock plan

 

982

 

 

 

1

 

 

 

(1

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Retired shares for restricted stock

   vesting

 

(285

)

 

 

 

 

 

(2,207

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(2,207

)

Issuance of common stock as

   stock dividend

 

45

 

 

 

 

 

 

664

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

664

 

Dividends distributed

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(38,555

)

 

 

 

 

 

(38,555

)

Stock-based compensation

 

 

 

 

 

 

 

4,061

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

4,061

 

Balance at June 30, 2014

 

63,251

 

 

$

64

 

 

$

668,673

 

 

$

(5,224

)

 

$

(7,897

)

 

$

3,635

 

 

$

(342

)

 

$

658,909

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at December 31, 2014

 

64,715

 

 

$

65

 

 

$

657,233

 

 

$

(17,076

)

 

$

14,079

 

 

$

4,905

 

 

$

(342

)

 

$

658,864

 

Net increase (decrease) in net assets

   resulting from operations

 

 

 

 

 

 

 

 

 

 

(7,162

)

 

 

2,058

 

 

 

29,774

 

 

 

 

 

 

24,670

 

Public offering, net of offering expenses

 

7,591

 

 

 

8

 

 

 

100,084

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

100,092

 

Issuance of common stock due to

   stock option exercises

 

36

 

 

 

 

 

 

428

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

428

 

Retired shares from net issuance

 

(28

)

 

 

 

 

 

(423

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(423

)

Issuance of common stock under

   restricted stock plan

 

603

 

 

 

1

 

 

 

(1

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Retired shares for restricted stock

   vesting

 

(514

)

 

 

(1

)

 

 

(3,399

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(3,400

)

Issuance of common stock as

   stock dividend

 

90

 

 

 

 

 

 

1,199

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1,199

 

Dividends distributed

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(42,766

)

 

 

 

 

 

(42,766

)

Stock-based compensation

 

 

 

 

 

 

 

5,027

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

5,027

 

Balance at June 30, 2015

 

72,493

 

 

$

73

 

 

$

760,148

 

 

$

(24,238

)

 

$

16,137

 

 

$

(8,087

)

 

$

(342

)

 

$

743,691

 

 

See notes to consolidated financial statements.

6


 

HERCULES TECHNOLOGY GROWTH CAPITAL, INC.

CONSOLIDATED STATEMENT OF CASH FLOWS

(unaudited)

(dollars in thousands)

 

 

For the Six Months Ended June 30,

 

Cash flows from operating activities:

2015

 

 

2014

 

Net increase in net assets resulting from operations

$

24,670

 

 

$

35,376

 

Adjustments to reconcile net increase in net assets resulting from

   operations to net cash provided by (used in) operating activities:

 

 

 

 

 

 

 

Purchase of investments

 

(373,422

)

 

 

(286,837

)

Principal and fee payments received on investments

 

154,208

 

 

 

204,966

 

Proceeds from the sale of investments

 

7,494

 

 

 

10,271

 

Net unrealized depreciation on investments

 

7,162

 

 

 

8,822

 

Net realized gain on investments

 

(2,058

)

 

 

(7,343

)

Accretion of paid-in-kind principal

 

(1,584

)

 

 

(1,337

)

Accretion of loan discounts

 

(3,412

)

 

 

(5,170

)

Accretion of loan discount on Convertible Senior Notes

 

123

 

 

 

541

 

Loss on debt extinguishment (Long-term Liabilities - Convertible Senior Notes)

 

1

 

 

 

 

Payment of loan discount on Convertible Senior Notes

 

(5

)

 

 

 

Accretion of loan exit fees

 

(6,624

)

 

 

(6,091

)

Change in deferred loan origination revenue

 

1,758

 

 

 

(349

)

Unearned fees related to unfunded commitments

 

1,074

 

 

 

(598

)

Amortization of debt fees and issuance costs

 

2,669

 

 

 

2,889

 

Depreciation

 

111

 

 

 

106

 

Stock-based compensation and amortization of restricted stock grants

 

5,027

 

 

 

4,061

 

Change in operating assets and liabilities:

 

 

 

 

 

 

 

Interest and fees receivable

 

227

 

 

 

262

 

Prepaid expenses and other assets

 

2,744

 

 

 

(2,410

)

Accounts payable

 

(732

)

 

 

571

 

Accrued liabilities

 

200

 

 

 

(4,849

)

Net cash provided by (used in) operating activities

 

(180,369

)

 

 

(47,119

)

 

 

 

 

 

 

 

 

Cash flows from investing activities:

 

 

 

 

 

 

 

Purchases of capital equipment

 

(80

)

 

 

(57

)

Reduction of (investment in) restricted cash

 

850

 

 

 

2,780

 

Net cash provided by (used in) investing activities

 

770

 

 

 

2,723

 

 

 

 

 

 

 

 

 

Cash flows from financing activities:

 

 

 

 

 

 

 

Issuance of common stock, net

 

100,092

 

 

 

9,873

 

Issuance (retirement) of employee shares

 

(3,395

)

 

 

(2,102

)

Dividends paid

 

(41,567

)

 

 

(37,891

)

Repayments of 2019 Notes Payable

 

(20,000

)

 

 

 

Repayments of 2017 Asset-Backed Notes

 

(16,049

)

 

 

(43,010

)

Repayments of Long-Term SBA Debentures

 

 

 

 

(34,800

)

Borrowings of credit facilities

 

50,000

 

 

 

 

Repayments of credit facilities

 

(378

)

 

 

 

Cash Paid for redemption of Convertible Senior Notes

 

(65

)

 

 

 

Fees paid for credit facilities and debentures

 

(168

)

 

 

(34

)

Net cash provided by (used in) financing activities

 

68,470

 

 

 

(107,964

)

Net decrease in cash and cash equivalents

 

(111,129

)

 

 

(152,360

)

Cash and cash equivalents at beginning of period

 

227,116

 

 

 

268,368

 

Cash and cash equivalents at end of period

$

115,987

 

 

$

116,008

 

 

 

 

 

 

 

 

 

Supplemental non-cash investing and financing activities:

 

 

 

 

 

 

 

Dividends Reinvested

$

1,199

 

 

$

664

 

Paid-in-kind Principal

$

2,012

 

 

$

1,365

 

 

See notes to consolidated financial statements.

7


 

HERCULES TECHNOLOGY GROWTH CAPITAL, INC.

CONSOLIDATED SCHEDULE OF INVESTMENTS

June 30, 2015

(unaudited)

(dollars in thousands)

 

Portfolio Company

 

Sub-Industry

 

Type of

Investment (1)

 

Maturity Date

 

Interest Rate and Floor

 

Principal Amount

 

 

Cost (2)

 

 

Value (3)

 

Debt Investment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Communications & Networking

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1-5 Years Maturity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OpenPeak, Inc. (10)(12)

 

Communications & Networking

 

Senior Secured

 

April 2017

 

Interest rate PRIME + 8.75% or

Floor rate of 12.00%, 7.45% Exit Fee

 

$

10,440

 

 

$

10,788

 

 

$

6,352

 

SkyCross, Inc. (11)(12)(13)

 

Communications & Networking

 

Senior Secured

 

January 2018

 

Interest rate PRIME + 7.70% or

Floor rate of 10.95%,

PIK Interest 5.00%, 7.60% Exit Fee

 

$

22,000

 

 

 

21,781

 

 

 

19,594

 

Subtotal: 1-5 Years Maturity

 

 

 

 

 

 

 

 

 

 

 

 

32,569

 

 

 

25,946

 

Subtotal: Communications & Networking (3.49%)*

 

 

 

 

 

 

 

 

 

 

 

 

32,569

 

 

 

25,946

 

 

Consumer & Business Products

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Under 1 Year Maturity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Antenna79 (p.k.a. Pong Research Corporation) (11)(13)

 

Consumer & Business Products

 

Senior Secured

 

June 2016

 

Interest rate PRIME + 7.75% or

Floor rate of 11.00%

 

$

1,033

 

 

 

1,033

 

 

 

1,033

 

Subtotal: Under 1 Year Maturity

 

 

 

 

 

 

 

 

 

 

 

 

1,033

 

 

 

1,033

 

1-5 Years Maturity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Antenna79 (p.k.a. Pong Research Corporation) (11)(12)(13)(16)

 

Consumer & Business Products

 

Senior Secured

 

December 2017

 

Interest rate PRIME + 6.75% or

Floor rate of 10.00%,

PIK Interest 2.50%, 5.65% Exit Fee

 

$

4,892

 

 

 

4,870

 

 

 

4,967

 

Fluc, Inc. (8)

 

Consumer & Business Products

 

Convertible Debt

 

March 2017

 

Interest rate FIXED 4.00%

 

$

100

 

 

 

100

 

 

 

 

IronPlanet, Inc. (12)

 

Consumer & Business Products

 

Senior Secured

 

November 2017

 

Interest rate PRIME + 6.20% or

Floor rate of 9.45%, 9.45% Exit Fee

 

$

37,500

 

 

 

37,508

 

 

 

37,306

 

The Neat Company(11)(12)(13)

 

Consumer & Business Products

 

Senior Secured

 

September 2017

 

Interest rate PRIME + 7.75% or

Floor rate of 11.00%,

PIK Interest 1.00%, 3.00% Exit Fee

 

$

18,414

 

 

 

18,079

 

 

 

18,079

 

Subtotal: 1-5 Years Maturity

 

 

 

 

 

 

 

 

 

 

 

 

60,557

 

 

 

60,352

 

Subtotal: Consumer & Business Products (8.25%)*

 

 

 

 

 

 

 

 

 

 

 

 

61,590

 

 

 

61,385

 

 

Drug Delivery

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1-5 Years Maturity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

AcelRx Pharmaceuticals, Inc. (9)(10)(12)(13)

 

Drug Delivery

 

Senior Secured

 

October 2017

 

Interest rate PRIME + 3.85% or

Floor rate of 9.10%, 4.25% Exit Fee

 

$

22,760

 

 

 

22,964

 

 

 

23,124

 

Agile Therapeutics, Inc (10)(12)

 

Drug Delivery

 

Senior Secured

 

December 2018

 

Interest rate PRIME + 5.75% or

Floor rate of 9.00%, 3.70% Exit Fee

 

$

16,500

 

 

 

16,009

 

 

 

16,009

 

BIND Therapeutics, Inc. (12)(13)

 

Drug Delivery

 

Senior Secured

 

July 2018

 

Interest rate PRIME + 5.10% or

Floor rate of 8.35%, 6.11% Exit Fee

 

$

15,000

 

 

 

14,893

 

 

 

14,944

 

BioQuiddity Incorporated (10)(12)

 

Drug Delivery

 

Senior Secured

 

May 2018

 

Interest rate PRIME + 8.00% or

Floor rate of 11.25%, 6.00% Exit Fee

 

$

10,000

 

 

 

10,024

 

 

 

10,094

 

Celator Pharmaceuticals, Inc. (10)(12)

 

Drug Delivery

 

Senior Secured

 

June 2018

 

Interest rate PRIME + 6.50% or

Floor rate of 9.75%, 3.95% Exit Fee

 

$

15,000

 

 

 

14,909

 

 

 

14,945

 

Celsion Corporation (10)(12)

 

Drug Delivery

 

Senior Secured

 

June 2017

 

Interest rate PRIME + 8.00% or

Floor rate of 11.25%, 3.50% Exit Fee

 

$

8,223

 

 

 

8,257

 

 

 

8,376

 

Dance Biopharm, Inc. (12)(13)

 

Drug Delivery

 

Senior Secured

 

November 2017

 

Interest rate PRIME + 7.40% or

Floor rate of 10.65%, 4.00% Exit Fee

 

$

3,321

 

 

 

3,342

 

 

 

3,349

 

Edge Therapeutics, Inc. (10)(12)

 

Drug Delivery

 

Senior Secured

 

March 2018

 

Interest rate PRIME + 5.95% or

Floor rate of 9.95%, 1.50% Exit Fee

 

$

6,000

 

 

 

5,920

 

 

 

5,844

 

Egalet Corporation (12)

 

Drug Delivery

 

Senior Secured

 

July 2018

 

Interest rate PRIME + 6.15% or

Floor rate of 9.40%, 3.85% Exit Fee

 

$

15,000

 

 

 

14,853

 

 

 

15,040

 

Neos Therapeutics, Inc. (12)(13)

 

Drug Delivery

 

Senior Secured

 

October 2017

 

Interest rate PRIME + 5.75% or

Floor rate of 9.00%, 4.25% Exit Fee

 

$

5,000

 

 

 

4,898

 

 

 

4,948

 

 

 

Drug Delivery

 

Senior Secured

 

October 2017

 

Interest rate PRIME + 7.25% or

Floor rate of 10.50%, 4.25% Exit Fee

 

$

10,000

 

 

 

9,914

 

 

 

10,014

 

 

 

Drug Delivery

 

Senior Secured

 

October 2017

 

Interest rate FIXED 9.00%,

2.13% Exit Fee

 

$

10,000

 

 

 

10,000

 

 

 

9,927

 

Total Neos Therapeutics, Inc.

 

 

 

 

 

 

 

$

25,000

 

 

 

24,812

 

 

 

24,889

 

Pulmatrix Inc. (8)(12)

 

Drug Delivery

 

Senior Secured

 

July 2018

 

Interest rate PRIME + 6.25% or

Floor rate of 9.50%, 3.50% Exit Fee

 

$

7,000

 

 

 

6,786

 

 

 

6,786

 

ZP Opco, Inc (pka Zosano Pharma) (10)(12)

 

Drug Delivery

 

Senior Secured

 

December 2018

 

Interest rate PRIME + 4.70% or

Floor rate of 7.95%, 2.87% Exit Fee

 

$

15,000

 

 

 

14,789

 

 

 

14,898

 

Subtotal: 1-5 Years Maturity

 

 

 

 

 

 

 

 

 

 

 

 

157,558

 

 

 

158,298

 

Subtotal: Drug Delivery (21.29%)*

 

 

 

 

 

 

 

 

 

 

 

 

157,558

 

 

 

158,298

 

 

 

See notes to consolidated financial statements.

8


 

HERCULES TECHNOLOGY GROWTH CAPITAL, INC.

CONSOLIDATED SCHEDULE OF INVESTMENTS

June 30, 2015

(unaudited)

(dollars in thousands)

 

Portfolio Company

 

Sub-Industry

 

Type of

Investment (1)

 

Maturity Date

 

Interest Rate and Floor

 

Principal Amount

 

 

Cost (2)

 

 

Value (3)

 

Drug Discovery & Development

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Under 1 Year Maturity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Aveo Pharmaceuticals, Inc. (9)(13)

 

Drug Discovery & Development

 

Senior Secured

 

December 2015

 

Interest rate PRIME + 7.15% or

Floor rate of 11.90%

 

$

6,018

 

 

$

6,018

 

 

$

6,018

 

Concert Pharmaceuticals, Inc. (10)

 

Drug Discovery & Development

 

Senior Secured

 

October 2015

 

Interest rate PRIME + 3.25% or

Floor rate of 8.50%

 

$

2,954

 

 

 

2,950

 

 

 

2,950

 

Insmed, Incorporated (10)(12)

 

Drug Discovery & Development

 

Senior Secured

 

January 2016

 

Interest rate PRIME + 4.75% or

Floor rate of 9.25%, 1.95% Exit Fee

 

$

25,000

 

 

 

25,097

 

 

 

25,097

 

Subtotal: Under 1 Year Maturity

 

 

 

 

 

 

 

 

 

 

 

 

34,065

 

 

 

34,065

 

1-5 Years Maturity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Aveo Pharmaceuticals, Inc. (9)(12)(13)

 

Drug Discovery & Development

 

Senior Secured

 

January 2018

 

Interest rate PRIME + 6.65% or

Floor rate of 11.90%, 5.40% Exit Fee

 

$

10,000

 

 

 

9,930

 

 

 

9,975

 

Celladon Corporation (12)(13)

 

Drug Discovery & Development

 

Senior Secured

 

February 2018

 

Interest rate PRIME + 5.00% or

Floor rate of 8.25%, 7.00% Exit Fee

 

$

10,000

 

 

 

10,193

 

 

 

10,193

 

Cempra, Inc. (10)(12)

 

Drug Discovery & Development

 

Senior Secured

 

April 2018

 

Interest rate PRIME + 6.30% or

Floor rate of 9.55%, 2.00% Exit Fee

 

$

17,557

 

 

 

17,630

 

 

 

17,630

 

Cerecor Inc. (12)

 

Drug Discovery & Development

 

Senior Secured

 

August 2017

 

Interest rate PRIME + 4.70% or

Floor rate of 7.95%, 2.50% Exit Fee

 

$

7,247

 

 

 

7,196

 

 

 

7,181

 

Cerulean Pharma Inc. (12)

 

Drug Discovery & Development

 

Senior Secured

 

July 2018

 

Interest rate PRIME + 4.05% or

Floor rate of 7.30%, 6.70% Exit Fee

 

$

15,000

 

 

 

14,860

 

 

 

14,860

 

Cleveland BioLabs, Inc. (12)(13)

 

Drug Discovery & Development

 

Senior Secured

 

January 2017

 

Interest rate LIBOR + 6.20% or

Floor rate of 10.45%, 5.50% Exit Fee

 

$

1,518

 

 

 

1,783

 

 

 

1,761

 

CTI BioPharma Corp. (p.k.a. Cell Therapeutics, Inc.) (10)(12)

 

Drug Discovery & Development

 

Senior Secured

 

December 2018

 

Interest rate PRIME + 7.70% or

Floor rate of 10.95%, 8.50% Exit Fee

 

$

20,000

 

 

 

20,588

 

 

 

20,603

 

Dynavax Technologies (9)(12)

 

Drug Discovery & Development

 

Senior Secured

 

July 2018

 

Interest rate PRIME + 6.50% or

Floor rate of 9.75%, 8.40% Exit Fee

 

$

10,000

 

 

 

10,074

 

 

 

10,115

 

Epirus Biopharmaceuticals, Inc. (12)

 

Drug Discovery & Development

 

Senior Secured

 

April 2018

 

Interest rate PRIME + 4.70% or Floor rate of 7.95%, 3.00% Exit Fee

 

$

15,000

 

 

 

14,672

 

 

 

14,896

 

Genocea Biosciences, Inc. (10)(12)

 

Drug Discovery & Development

 

Senior Secured

 

January 2019

 

Interest rate PRIME + 4.00% or

Floor rate of 7.25%, 4.95% Exit Fee

 

$

12,000

 

 

 

11,970

 

 

 

11,888

 

Melinta Therapeutics (12)

 

Drug Discovery & Development

 

Senior Secured

 

June 2018

 

Interest rate PRIME + 5.00% or

Floor rate of 8.25%, 3.50% Exit Fee

 

$

20,000

 

 

 

19,592

 

 

 

19,729

 

Merrimack Pharmaceuticals, Inc. (12)

 

Drug Discovery & Development

 

Senior Secured

 

November 2018

 

Interest rate PRIME + 7.30% or

Floor rate of 10.55%, 3.00% Exit Fee

 

$

40,000

 

 

 

40,569

 

 

 

40,569

 

Neothetics, Inc. (p.k.a. Lithera, Inc) (12)(13)

 

Drug Discovery & Development

 

Senior Secured

 

January 2018

 

Interest rate PRIME + 5.75% or

Floor rate of 9.00%, 3.00% Exit Fee

 

$

10,000

 

 

 

9,857

 

 

 

9,865

 

Neuralstem, Inc. (12)(13)

 

Drug Discovery & Development

 

Senior Secured

 

April 2017

 

Interest rate PRIME + 6.75% or

Floor rate of 10.00%, 6.00% Exit Fee

 

$

9,489

 

 

 

9,448

 

 

 

9,605

 

uniQure B.V. (4)(9)(10)(12)

 

Drug Discovery & Development

 

Senior Secured

 

June 2018

 

Interest rate PRIME + 5.00% or

Floor rate of 10.25%, 2.98% Exit Fee

 

$

20,000

 

 

 

19,905

 

 

 

19,984

 

XOMA Corporation (9)(12)(13)

 

Drug Discovery & Development

 

Senior Secured

 

September 2018

 

Interest rate PRIME + 6.15% or

Floor rate of 9.40%, 5.75% Exit Fee

 

$

20,000

 

 

 

19,676

 

 

 

19,676

 

Subtotal: 1-5 Years Maturity

 

 

 

 

 

 

 

 

 

 

 

 

237,943

 

 

 

238,530

 

Subtotal: Drug Discovery & Development (36.65%)*

 

 

 

 

 

 

 

 

 

 

 

 

272,008

 

 

 

272,595

 

 

Electronics & Computer Hardware

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1-5 Years Maturity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Plures Technologies, Inc. (7)(11)

 

Electronics & Computer Hardware

 

Senior Secured

 

October 2016

 

Interest rate LIBOR + 8.75% or

Floor rate of 12.00%, PIK Interest 4.00%

 

$

267

 

 

 

180

 

 

 

 

Subtotal: 1-5 Years Maturity

 

 

 

 

 

 

 

 

 

 

 

 

180

 

 

 

 

Subtotal: Electronics & Computer Hardware (0.00%)*

 

 

 

 

 

 

 

 

 

 

 

 

180

 

 

 

 

See notes to consolidated financial statements.

9


 

HERCULES TECHNOLOGY GROWTH CAPITAL, INC.

CONSOLIDATED SCHEDULE OF INVESTMENTS

June 30, 2015

(unaudited)

(dollars in thousands) 

Portfolio Company

 

Sub-Industry

 

Type of

Investment (1)

 

Maturity Date

 

Interest Rate and Floor

 

Principal Amount

 

 

Cost (2)

 

 

Value (3)

 

Energy Technology

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Under 1 Year Maturity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fluidic, Inc. (10)(12)

 

Energy Technology

 

Senior Secured

 

March 2016

 

Interest rate PRIME + 8.00% or

Floor rate of 11.25%, 3.00% Exit Fee

 

$

2,270

 

 

$

2,392

 

 

$

2,392

 

Polyera Corporation (12)(13)

 

Energy Technology

 

Senior Secured

 

June 2016

 

Interest rate PRIME + 6.75% or

Floor rate of 10.00%, 4.25% Exit Fee

 

$

2,492

 

 

 

2,706

 

 

 

2,706

 

Stion Corporation (5)(12)

 

Energy Technology

 

Senior Secured

 

March 2016

 

Interest rate PRIME + 8.75% or

Floor rate of 12.00%, 3.00% Exit Fee

 

$

3,055

 

 

 

3,055

 

 

 

1,600

 

Sungevity Development, LLC

 

Energy Technology

 

Senior Secured

 

April 2016

 

Interest rate PRIME + 3.70% or

Floor rate 6.95%

 

$

17,214

 

 

 

17,214

 

 

 

17,214

 

TAS Energy, Inc. (10)(12)

 

Energy Technology

 

Senior Secured

 

December 2015

 

Interest rate PRIME + 7.75% or

Floor rate of 11.00%, 1.67% Exit Fee

 

$

4,153

 

 

 

4,344

 

 

 

4,344

 

Subtotal: Under 1 Year Maturity

 

 

 

 

 

 

 

 

 

 

 

 

29,711

 

 

 

28,256

 

1-5 Years Maturity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Agrivida, Inc. (12)(13)

 

Energy Technology

 

Senior Secured

 

December 2016

 

Interest rate PRIME + 6.75% or

Floor rate of 10.00%, 5.00% Exit Fee

 

$

4,362

 

 

 

4,549

 

 

 

4,497

 

American Superconductor Corporation (10)(12)

 

Energy Technology

 

Senior Secured

 

November 2016

 

Interest rate PRIME + 7.25% or

Floor rate of 11.00%, 5.00% Exit Fee

 

$

5,667

 

 

 

6,020

 

 

 

5,965

 

 

 

Energy Technology

 

Senior Secured

 

June 2017

 

Interest rate PRIME + 7.75% or

Floor rate of 11.00%, 5.00% Exit Fee

 

$

1,500

 

 

 

1,472

 

 

 

1,476

 

Total American Superconductor Corporation

 

 

 

 

 

 

 

$

7,167

 

 

 

7,492

 

 

 

7,441

 

Amyris, Inc. (9)(12)

 

Energy Technology

 

Senior Secured

 

February 2017

 

Interest rate PRIME + 6.25% or

Floor rate of 9.50%, 10.00% Exit Fee

 

$

22,909

 

 

 

22,909

 

 

 

23,138

 

 

 

Energy Technology

 

Senior Secured

 

February 2017

 

Interest rate PRIME + 5.25% or

Floor rate of 8.50%, 10.00% Exit Fee

 

$

4,578

 

 

 

4,578

 

 

 

4,624

 

Total Amyris, Inc.

 

 

 

 

 

 

 

$

27,487

 

 

 

27,487

 

 

 

27,762

 

Modumetal, Inc. (12)

 

Energy Technology

 

Senior Secured

 

March 2017

 

Interest rate PRIME + 11.20% or

Floor rate of 14.45%, 8.82% Exit Fee

 

$

2,412

 

 

 

2,534

 

 

 

2,606

 

Polyera Corporation (12)(13)

 

Energy Technology

 

Senior Secured

 

April 2018

 

Interest rate PRIME + 6.70% or

Floor rate of 9.95%, 3.45% Exit Fee

 

$

3,000

 

 

 

2,933

 

 

 

2,933

 

Proterra, Inc. (12)

 

Energy Technology

 

Senior Secured

 

June 2018

 

Interest rate PRIME + 6.95% or

Floor rate of 10.20%, 5.95% Exit Fee

 

$

20,000

 

 

 

19,788

 

 

 

19,788

 

Sungevity Development, LLC (12)

 

Energy Technology

 

Senior Secured

 

October 2017

 

Interest rate PRIME + 3.70% or

Floor rate 6.95%, 9.95% Exit Fee

 

$

25,000

 

 

 

24,397

 

 

 

24,820

 

Tendril Networks (12)

 

Energy Technology

 

Senior Secured

 

June 2019

 

Interest rate FIXED 7.25%,

10.45% Exit Fee

 

$

10,000

 

 

 

9,671

 

 

 

9,671

 

Subtotal: 1-5 Years Maturity

 

 

 

 

 

 

 

 

 

 

 

 

98,851

 

 

 

99,518

 

Subtotal: Energy Technology (17.18%)*

 

 

 

 

 

 

 

 

 

 

 

 

128,562

 

 

 

127,774

 

 

Healthcare Services, Other

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1-5 Years Maturity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Chromadex Corporation (12)(13)

 

Healthcare Services, Other

 

Senior Secured

 

April 2018

 

Interest rate PRIME + 6.10% or

Floor rate of 9.35%, 3.75% Exit Fee

 

$

5,000

 

 

 

4,820

 

 

 

4,877

 

InstaMed Communications, LLC (12)(13)

 

Healthcare Services, Other

 

Senior Secured

 

March 2018

 

Interest rate PRIME + 6.75% or

Floor rate of 10.00%, 7.62% Exit Fee

 

$

5,000

 

 

 

5,081

 

 

 

5,071

 

Subtotal: 1-5 Years Maturity

 

 

 

 

 

 

 

 

 

 

 

 

9,901

 

 

 

9,948

 

Subtotal: Healthcare Services, Other (1.34%)*

 

 

 

 

 

 

 

 

 

 

 

 

9,901

 

 

 

9,948

 

 

Information Services

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Under 1 Year Maturity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Eccentex Corporation (12)(15)

 

Information Services

 

Senior Secured

 

May 2015

 

Interest rate PRIME + 7.00% or

Floor rate of 10.25%, 1.50% Exit Fee

 

$

13

 

 

 

28

 

 

 

28

 

Subtotal: Under 1 Year Maturity

 

 

 

 

 

 

 

 

 

 

 

 

28

 

 

 

28

 

1-5 Years Maturity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

INMOBI Inc. (4)(9)(11)(12)

 

Information Services

 

Senior Secured

 

December 2016

 

Interest rate PRIME + 7.00% or

Floor rate of 10.25%

 

$

14,612

 

 

 

14,612

 

 

 

14,612

 

 

 

Information Services

 

Senior Secured

 

December 2017

 

Interest rate PRIME + 5.75% or

Floor rate of 9.00%,

PIK Interest 2.50%, 4.00% Exit Fee

 

$

15,203

 

 

 

15,196

 

 

 

15,225

 

Total INMOBI Inc.

 

 

 

 

 

 

 

$

29,815

 

 

 

29,808

 

 

 

29,837

 

InXpo, Inc. (12)(13)

 

Information Services

 

Senior Secured

 

October 2016

 

Interest rate PRIME + 7.50% or

Floor rate of 10.75%, 3.00% Exit Fee

 

$

1,713

 

 

 

1,736

 

 

 

1,740

 

Subtotal: 1-5 Years Maturity

 

 

 

 

 

 

 

 

 

 

 

 

31,544

 

 

 

31,577

 

Subtotal: Information Services (4.25%)*

 

 

 

 

 

 

 

 

 

 

 

 

31,572

 

 

 

31,605

 

 

See notes to consolidated financial statements.

10


 

HERCULES TECHNOLOGY GROWTH CAPITAL, INC.

CONSOLIDATED SCHEDULE OF INVESTMENTS

June 30, 2015

(unaudited)

(dollars in thousands)

 

Portfolio Company

 

Sub-Industry

 

Type of

Investment (1)

 

Maturity Date

 

Interest Rate and Floor

 

Principal Amount

 

 

Cost (2)

 

 

Value (3)

 

Internet Consumer & Business Services

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Under 1 Year Maturity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Education Dynamics, LLC (11)(13)

 

Internet Consumer & Business Services

 

Senior Secured

 

March 2016

 

Interest rate LIBOR + 12.50% or

Floor rate of 12.50%, PIK Interest 1.50%

 

$

20,719

 

 

$

20,709

 

 

$

20,709

 

Gazelle, Inc.(11)

 

Internet Consumer & Business Services

 

Senior Secured

 

December 2015

 

Interest rate PRIME + 6.50% or

Floor rate of 9.75%

 

$

437

 

 

 

437

 

 

 

437

 

NetPlenish (7)(8)(13)

 

Internet Consumer & Business Services

 

Convertible Debt

 

April 2016

 

Interest rate FIXED 10.00%

 

$

429

 

 

 

421

 

 

 

 

Tectura Corporation (7)(11)(14)

 

Internet Consumer & Business Services

 

Senior Secured

 

May 2014

 

Interest rate LIBOR + 8.00% or

Floor rate of 11.00%, PIK Interest 1.00%

 

$

8,770

 

 

 

8,770

 

 

 

3,881

 

 

 

Internet Consumer & Business Services

 

Senior Secured

 

May 2014

 

Interest rate LIBOR + 10.00% or

Floor rate of 13.00%

 

$

563

 

 

 

563

 

 

 

249

 

 

 

Internet Consumer & Business Services

 

Senior Secured

 

May 2014

 

Interest rate LIBOR + 10.00% or

Floor rate of 13.00%

 

$

5,000

 

 

 

5,000

 

 

 

2,212

 

 

 

Internet Consumer & Business Services

 

Senior Secured

 

May 2014

 

Interest rate LIBOR + 10.00% or

Floor rate of 13.00%

 

$

6,468

 

 

 

6,468

 

 

 

2,862

 

Total Tectura Corporation

 

 

 

 

 

 

 

$

20,801

 

 

 

20,801

 

 

 

9,204

 

Subtotal: Under 1 Year Maturity

 

 

 

 

 

 

 

 

 

 

 

 

42,368

 

 

 

30,350

 

1-5 Years Maturity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Aria Systems, Inc. (11)

 

Internet Consumer & Business Services

 

Senior Secured

 

June 2019

 

Interest rate PRIME + 3.20% or

Floor rate of 6.95%, PIK Interest 1.95%

 

$

2,001

 

 

 

1,971

 

 

 

1,971

 

 

 

Internet Consumer & Business Services

 

Senior Secured

 

June 2019

 

Interest rate PRIME + 5.20% or

Floor rate of 8.95%, PIK Interest 1.95%

 

$

8,004

 

 

 

7,882

 

 

 

7,882

 

Total Aria Systems, Inc.

 

 

 

 

 

 

 

$

10,005

 

 

 

9,853

 

 

 

9,853

 

Gazelle, Inc. (11)

 

Internet Consumer & Business Services

 

Senior Secured

 

July 2017

 

Interest rate PRIME + 7.00% or

Floor rate of 10.25%, PIK Interest 2.50%

 

$

13,736

 

 

 

13,604

 

 

 

13,639

 

Just Fabulous, Inc. (10)(12)

 

Internet Consumer & Business Services

 

Senior Secured

 

February 2017

 

Interest rate PRIME + 8.25% or

Floor rate of 11.50%, 3.00% Exit Fee

 

$

15,000

 

 

 

14,817

 

 

 

14,817

 

Lightspeed POS, Inc. (4)(9)(10)

 

Internet Consumer & Business Services

 

Senior Secured

 

May 2018

 

Interest rate PRIME + 3.25% or

Floor rate of 6.50%

 

$

5,000

 

 

 

4,972

 

 

 

4,998

 

ReachLocal (12)

 

Internet Consumer & Business Services

 

Senior Secured

 

April 2018

 

Interest rate PRIME + 8.50% or

Floor rate of 11.75%, 5.90% Exit Fee

 

$

25,000

 

 

 

24,687

 

 

 

24,687

 

Reply! Inc. (7)(11)

 

Internet Consumer & Business Services

 

Senior Secured

 

March 2019

 

Interest rate PRIME + 4.25% or Floor rate of 7.50%

 

$

6,240

 

 

 

5,872

 

 

 

3,308

 

 

 

Internet Consumer & Business Services

 

Senior Secured

 

March 2019

 

PIK Interest 2.00%

 

$

5,964

 

 

 

5,964

 

 

 

3,360

 

Total Reply! Inc.

 

 

 

 

 

 

 

$

12,204

 

 

 

11,836

 

 

 

6,668

 

Tapjoy, Inc. (12)

 

Internet Consumer & Business Services

 

Senior Secured

 

July 2018

 

Interest rate PRIME + 6.50% or Floor rate of 9.75%, 0.50% Exit Fee

 

$

20,000

 

 

 

19,571

 

 

 

19,553

 

WaveMarket, Inc. (12)

 

Internet Consumer & Business Services

 

Senior Secured

 

March 2017

 

Interest rate PRIME + 6.50% or

Floor rate of 9.75%, 1.00% Exit Fee

 

$

236

 

 

 

238

 

 

 

242

 

Subtotal: 1-5 Years Maturity

 

 

 

 

 

 

 

 

 

 

 

 

99,578

 

 

 

94,457

 

Subtotal: Internet Consumer & Business Services (16.78%)*

 

 

 

 

 

 

 

 

 

 

 

 

141,946

 

 

 

124,807

 

 

Media/Content/Info

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Under 1 Year Maturity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Zoom Media Group, Inc. (10)(11)

 

Media/Content/Info

 

Senior Secured

 

December 2015

 

Interest rate PRIME + 7.25% or

Floor rate of 10.50%, PIK Interest 3.75%

 

$

1,521

 

 

 

1,508

 

 

 

1,508

 

 

 

Media/Content/Info

 

Senior Secured

 

December 2015

 

Interest rate PRIME + 5.25% or

Floor rate of 8.50%

 

$

5,060

 

 

 

5,060

 

 

 

5,060

 

Total Zoom Media Group, Inc.

 

 

 

 

 

 

 

$

6,581

 

 

 

6,568

 

 

 

6,568

 

Subtotal: Under 1 Year Maturity

 

 

 

 

 

 

 

 

 

 

 

 

6,568

 

 

 

6,568

 

1-5 Years Maturity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Machine Zone, Inc. (11)

 

Media/Content/Info

 

Senior Secured

 

May 2018

 

Interest rate PRIME + 3.50% or

Floor rate of 6.75%, PIK Interest 3.00%

 

$

30,018

 

 

 

29,287

 

 

 

29,287

 

Rhapsody International, Inc. (10)(11)(13)

 

Media/Content/Info

 

Senior Secured

 

April 2018

 

Interest rate PRIME + 5.25% or

Floor rate of 9.00%, PIK interest 1.50%

 

$

19,392

 

 

 

19,050

 

 

 

19,052

 

Subtotal: 1-5 Years Maturity

 

 

 

 

 

 

 

 

 

 

 

 

48,337

 

 

 

48,339

 

Subtotal: Media/Content/Info (7.38%)*

 

 

 

 

 

 

 

 

 

 

 

 

54,905

 

 

 

54,907

 

 

See notes to consolidated financial statements.

11


 

HERCULES TECHNOLOGY GROWTH CAPITAL, INC.

CONSOLIDATED SCHEDULE OF INVESTMENTS

June 30, 2015

(unaudited)

(dollars in thousands)

 

Portfolio Company

 

Sub-Industry

 

Type of

Investment (1)

 

Maturity Date

 

Interest Rate and Floor

 

Principal Amount

 

 

Cost (2)

 

 

Value (3)

 

Medical Devices & Equipment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Under 1 Year Maturity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Medrobotics Corporation (12)(13)

 

Medical Devices & Equipment

 

Senior Secured

 

March 2016

 

Interest rate PRIME + 7.85% or

Floor rate of 11.10%, 3.25% Exit Fee

 

$

1,657

 

 

$

1,791

 

 

$

1,791

 

SonaCare Medical, LLC (p.k.a. US HIFU, LLC) (12)

 

Medical Devices & Equipment

 

Senior Secured

 

April 2016

 

Interest rate PRIME + 7.75% or

Floor rate of 11.00%, 6.80% Exit Fee

 

$

729

 

 

 

1,113

 

 

 

1,113

 

Subtotal: Under 1 Year Maturity

 

 

 

 

 

 

 

 

 

 

 

 

2,904

 

 

 

2,904

 

1-5 Years Maturity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amedica Corporation (8)(12)(13)

 

Medical Devices & Equipment

 

Senior Secured

 

January 2018

 

Interest rate PRIME + 7.70% or

Floor rate of 10.95%, 7.25% Exit Fee

 

$

20,000

 

 

 

20,131

 

 

 

17,015

 

Aspire Bariatrics, Inc. (12)(13)

 

Medical Devices & Equipment

 

Senior Secured

 

April 2018

 

Interest rate PRIME + 6.00% or

Floor rate of 9.25%, 8.04% Exit Fee

 

$

4,000

 

 

 

3,675

 

 

 

3,675

 

Avedro, Inc. (12)(13)

 

Medical Devices & Equipment

 

Senior Secured

 

June 2018

 

Interest rate PRIME + 6.00% or

Floor rate of 9.25%, 3.50% Exit Fee

 

$

12,500

 

 

 

12,190

 

 

 

12,030

 

Flowonix Medical Incorporated (12)

 

Medical Devices & Equipment

 

Senior Secured

 

May 2018

 

Interest rate PRIME + 5.25% or

Floor rate of 10.00%, 5.00% Exit Fee

 

$

15,000

 

 

 

14,865

 

 

 

14,936

 

Gamma Medica, Inc. (10)(12)

 

Medical Devices & Equipment

 

Senior Secured

 

January 2018

 

Interest rate PRIME + 6.50% or

Floor rate of 9.75%, 6.00% Exit Fee

 

$

4,000

 

 

 

3,942

 

 

 

3,944

 

InspireMD, Inc. (4)(9)(12)

 

Medical Devices & Equipment

 

Senior Secured

 

February 2017

 

Interest rate PRIME + 7.25% or

Floor rate of 10.50%, 5.00% Exit Fee

 

$

6,963

 

 

 

7,205

 

 

 

7,150

 

nContact Surgical, Inc (12)(13)

 

Medical Devices & Equipment

 

Senior Secured

 

November 2018

 

Interest rate PRIME + 9.25% or

Floor rate of 9.25%, 3.95% Exit Fee

 

$

10,000

 

 

 

9,833

 

 

 

9,845

 

Quanterix Corporation (10)(12)

 

Medical Devices & Equipment

 

Senior Secured

 

February 2018

 

Interest rate PRIME + 2.75% or

Floor rate of 8.00%, 4.00% Exit Fee

 

$

10,000

 

 

 

9,903

 

 

 

9,963

 

SynergEyes, Inc. (12)(13)

 

Medical Devices & Equipment

 

Senior Secured

 

January 2018

 

Interest rate PRIME + 7.75% or

Floor rate of 11.00%, 4.80% Exit Fee

 

$

5,000

 

 

 

5,143

 

 

 

5,118

 

Subtotal: 1-5 Years Maturity

 

 

 

 

 

 

 

 

 

 

 

 

86,887

 

 

 

83,676

 

Subtotal: Medical Devices & Equipment (11.64%)*

 

 

 

 

 

 

 

 

 

 

 

 

89,791

 

 

 

86,580

 

 

Semiconductors

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1-5 Years Maturity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Achronix Semiconductor Corporation (12)(13)

 

Semiconductors

 

Senior Secured

 

July 2018

 

Interest rate PRIME + 8.25% or

Floor rate of 11.50%, 6.50% Exit Fee

 

$

5,000

 

 

 

4,929

 

 

 

4,929

 

Avnera Corporation (10)(12)

 

Semiconductors

 

Senior Secured

 

April 2018

 

Interest rate PRIME + 5.25% or

Floor rate of 8.50%, 3.50% Exit Fee

 

$

7,500

 

 

 

7,442

 

 

 

7,535

 

Subtotal: 1-5 Years Maturity

 

 

 

 

 

 

 

 

 

 

 

 

12,371

 

 

 

12,464

 

Subtotal: Semiconductors (1.68%)*

 

 

 

 

 

 

 

 

 

 

 

 

12,371

 

 

 

12,464

 

 

 

See notes to consolidated financial statements.

12


 

HERCULES TECHNOLOGY GROWTH CAPITAL, INC.

CONSOLIDATED SCHEDULE OF INVESTMENTS

June 30, 2015

(unaudited)

(dollars in thousands)

 

Portfolio Company

 

Sub-Industry

 

Type of

Investment (1)

 

Maturity Date

 

Interest Rate and Floor

 

Principal Amount

 

 

Cost (2)

 

 

Value (3)

 

Software

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Under 1 Year Maturity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CareCloud Corporation (13)

 

Software

 

Senior Secured

 

July 2015

 

Interest rate PRIME + 1.40% or

Floor rate of 4.65%

 

$

3,000

 

 

$

3,000

 

 

$

3,000

 

Clickfox, Inc. (12)(13)

 

Software

 

Senior Secured

 

August 2015

 

Interest rate PRIME + 8.75% or

Floor rate of 12.00%, 5.00% Exit Fee

 

$

3,000

 

 

 

3,108

 

 

 

3,108

 

 

 

Software

 

Senior Secured

 

July 2015

 

Interest rate PRIME + 6.75% or

Floor rate of 10.00%

 

$

2,000

 

 

 

2,000

 

 

 

2,000

 

Total Clickfox, Inc.

 

 

 

 

 

 

 

$

5,000

 

 

 

5,108

 

 

 

5,108

 

Mobile Posse, Inc.(13)

 

Software

 

Senior Secured

 

June 2016

 

Interest rate PRIME + 2.00% or

Floor rate of 5.25%

 

$

1,000

 

 

 

1,000

 

 

 

1,000

 

Neos Geosolutions, Inc. (12)(13)

 

Software

 

Senior Secured

 

May 2016

 

Interest rate PRIME + 5.75% or

Floor rate of 10.50%, 4.25% Exit Fee

 

$

1,552

 

 

 

1,701

 

 

 

1,701

 

Subtotal: Under 1 Year Maturity

 

 

 

 

 

 

 

 

 

 

 

 

10,809

 

 

 

10,809

 

1-5 Years Maturity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CareCloud Corporation (12)(13)

 

Software

 

Senior Secured

 

July 2017

 

Interest rate PRIME + 5.50% or

Floor rate of 8.75%, 12.00% Exit Fee

 

$

3,000

 

 

 

2,966

 

 

 

2,947

 

 

 

Software

 

Senior Secured

 

July 2017

 

Interest rate PRIME + 5.50% or

Floor rate of 8.75%, 2.95% Exit Fee

 

$

10,000

 

 

 

9,934

 

 

 

9,932

 

 

 

Software

 

Senior Secured

 

January 2018

 

Interest rate PRIME + 1.70% or Floor rate of 4.95%, 2.95% Exit Fee

 

$

3,000

 

 

 

2,971

 

 

 

2,949

 

 

 

Software

 

Senior Secured

 

December 2017

 

Interest rate PRIME + 3.25% or

Floor rate of 6.50%, 12.00% Exit Fee

 

$

202

 

 

 

206

 

 

 

204

 

Total Carecloud Corporation

 

 

 

 

 

 

 

$

16,202

 

 

 

16,077

 

 

 

16,032

 

Clickfox, Inc. (12)(13)

 

Software

 

Senior Secured

 

March 2018

 

Interest rate PRIME + 8.25% or

Floor rate of 11.50%, 3.50% Exit Fee

 

$

6,000

 

 

 

5,930

 

 

 

5,724

 

Druva, Inc. (12)

 

Software

 

Senior Secured

 

March 2018

 

Interest rate PRIME + 4.60% or

Floor rate of 7.85%, 6.50% Exit Fee

 

$

9,000

 

 

 

8,961

 

 

 

8,961

 

JumpStart Games, Inc. (p.k.a. Knowledge Adventure, Inc.) (7)(11)(12)(13)(16)

 

Software

 

Senior Secured

 

March 2018

 

Interest rate PRIME + 8.25% or

Floor rate of 11.50%,

PIK Interest 6.50%, 5.07% Exit Fee

 

$

12,803

 

 

 

12,903

 

 

 

7,089

 

Message Systems, Inc. (13)

 

Software

 

Senior Secured

 

February 2019

 

Interest rate PRIME + 7.25% or

Floor rate of 10.50%

 

$

17,500

 

 

 

17,030

 

 

 

17,030

 

 

 

Software

 

Senior Secured

 

February 2017

 

Interest rate PRIME + 2.75% or

Floor rate of 6.00%

 

$

1,618

 

 

 

1,618

 

 

 

1,618

 

Total Message Systems, Inc.

 

 

 

 

 

 

 

$

19,118

 

 

 

18,648

 

 

 

18,648

 

Mobile Posse, Inc. (12)(13)

 

Software

 

Senior Secured

 

December 2016

 

Interest rate PRIME + 7.50% or

Floor rate of 10.75%, 2.00% Exit Fee

 

$

2,273

 

 

 

2,310

 

 

 

2,333

 

RedSeal Inc. (12)(13)

 

Software

 

Senior Secured

 

June 2018

 

Interest rate PRIME + 7.75% or

Floor rate of 11.00%, 3.95% Exit Fee

 

$

5,000

 

 

 

4,943

 

 

 

4,943

 

Soasta, Inc. (12)(13)

 

Software

 

Senior Secured

 

February 2018

 

Interest rate PRIME + 2.25% or

Floor rate of 5.50%, 0.81% Exit Fee

 

$

3,500

 

 

 

3,391

 

 

 

3,391

 

 

 

Software

 

Senior Secured

 

February 2019

 

Interest rate PRIME + 4.75% or

Floor rate of 8.00%, 0.81% Exit Fee

 

$

15,000

 

 

 

14,527

 

 

 

14,527

 

Total Soasta, Inc.

 

 

 

 

 

 

 

$

18,500

 

 

 

17,918

 

 

 

17,918

 

Sonian, Inc. (12)(13)

 

Software

 

Senior Secured

 

July 2017

 

Interest rate PRIME + 7.00% or

Floor rate of 10.25%, 2.00% Exit Fee

 

$

4,548

 

 

 

4,551

 

 

 

4,552

 

StrongView Systems, Inc. (11)(12)

 

Software

 

Senior Secured

 

December 2017

 

Interest rate PRIME + 6.00% or

Floor rate of 9.25%, PIK Interest 3.00%, 3.00% Exit Fee

 

$

10,152

 

 

 

9,982

 

 

 

9,982

 

Touchcommerce, Inc. (12)(13)

 

Software

 

Senior Secured

 

February 2018

 

Interest rate PRIME + 6.00% or

Floor Rate of 10.25%, 3.43% Exit Fee

 

$

7,000

 

 

 

6,793

 

 

 

6,863

 

 

 

Software

 

Senior Secured

 

August 2016

 

Interest rate PRIME + 2.25% or

Floor Rate of 6.50%

 

$

4,811

 

 

 

4,811

 

 

 

4,732

 

Total Touchcommerce, Inc.

 

 

 

 

 

 

 

$

11,811

 

 

 

11,604

 

 

 

11,595

 

Subtotal: 1-5 Years Maturity

 

 

 

 

 

 

 

 

 

 

 

 

113,827

 

 

 

107,777

 

Subtotal: Software (15.95%)*

 

 

 

 

 

 

 

 

 

 

 

 

124,636

 

 

 

118,586

 

 

 

 

See notes to consolidated financial statements.

13


 

HERCULES TECHNOLOGY GROWTH CAPITAL, INC.

CONSOLIDATED SCHEDULE OF INVESTMENTS

June 30, 2015

(unaudited)

(dollars in thousands)

 

Portfolio Company

 

Sub-Industry

 

Type of

Investment (1)

 

Maturity Date

 

Interest Rate and Floor

 

Principal Amount

 

 

Cost (2)

 

 

Value (3)

 

Specialty Pharmaceuticals

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Under 1 Year Maturity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cranford Pharmaceuticals, LLC (10)(11)(13)

 

Specialty Pharmaceuticals

 

Senior Secured

 

August 2015

 

Interest rate LIBOR + 8.25% or

Floor rate of 9.50%

 

$

1,100

 

 

$

1,100

 

 

$

1,100

 

Subtotal: Under 1 Year Maturity

 

 

 

 

 

 

 

 

 

 

 

 

1,100

 

 

 

1,100

 

1-5 Years Maturity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Alimera Sciences, Inc. (10)

 

Specialty Pharmaceuticals

 

Senior Secured

 

May 2018

 

Interest rate PRIME + 7.65% or

Floor rate of 10.90%

 

$

35,000

 

 

 

34,316

 

 

 

33,959

 

Cranford Pharmaceuticals, LLC (10)(11)(12)(13)

 

Specialty Pharmaceuticals

 

Senior Secured

 

February 2017

 

Interest rate LIBOR + 9.55% or

Floor rate of 10.80%, 

PIK Interest 1.35%, 1.75% Exit Fee

 

$

12,518

 

 

 

12,609

 

 

 

12,658

 

Subtotal: 1-5 Years Maturity

 

 

 

 

 

 

 

 

 

 

 

 

46,925

 

 

 

46,617

 

Subtotal: Specialty Pharmaceuticals (6.42%)*

 

 

 

 

 

 

 

 

 

 

 

 

48,025

 

 

 

47,717

 

 

Surgical Devices

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Under 1 Year Maturity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gynesonics, Inc. (13)

 

Surgical Devices

 

Convertible Debt

 

December 2015

 

Interest rate FIXED 8.00%

 

$

14

 

 

 

14

 

 

 

14

 

 

 

Surgical Devices

 

Convertible Debt

 

December 2015

 

Interest rate FIXED 8.00%

 

$

51

 

 

 

51

 

 

 

51

 

Total Gynesonics, Inc.

 

 

 

 

 

 

 

$

65

 

 

 

65

 

 

 

65

 

Transmedics, Inc.

 

Surgical Devices

 

Senior Secured

 

November 2015

 

Interest rate FIXED 12.95%

 

$

4,963

 

 

 

4,942

 

 

 

4,942

 

Subtotal: Under 1 Year Maturity

 

 

 

 

 

 

 

 

 

 

 

 

5,007

 

 

 

5,007

 

Subtotal: Surgical Devices (0.67%)*

 

 

 

 

 

 

 

 

 

 

 

 

5,007

 

 

 

5,007

 

Total Debt Investments (152.97%)*

 

 

 

 

 

 

 

 

 

 

 

 

1,170,621

 

 

 

1,137,619

 

 

 

 

See notes to consolidated financial statements.

14


 

HERCULES TECHNOLOGY GROWTH CAPITAL, INC.

CONSOLIDATED SCHEDULE OF INVESTMENTS

June 30, 2015

(unaudited)

(dollars in thousands)

 

Portfolio Company

 

Sub-Industry

 

Type of

Investment (1)

 

Series

 

Shares

 

 

Cost(2)

 

 

Value(3)

 

Equity Investments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Biotechnology Tools

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

NuGEN Technologies, Inc. (13)

 

Biotechnology Tools

 

Equity

 

Preferred Series C

 

 

189,394

 

 

$

500

 

 

$

529

 

Subtotal: Biotechnology Tools (0.07%)*

 

 

 

 

 

 

 

 

 

 

500

 

 

 

529

 

 

Communications & Networking

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GlowPoint, Inc. (3)

 

Communications & Networking

 

Equity

 

Common Stock

 

 

114,192

 

 

 

102

 

 

 

93

 

Peerless Network, Inc.

 

Communications & Networking

 

Equity

 

Preferred Series A

 

 

1,000,000

 

 

 

1,000

 

 

 

5,965

 

Subtotal: Communications & Networking (0.81%)*

 

 

 

 

 

 

 

 

 

 

1,102

 

 

 

6,058

 

 

Consumer & Business Products

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Market Force Information, Inc.

 

Consumer & Business Products

 

Equity

 

Preferred Series B-1

 

 

187,970

 

 

 

500

 

 

 

3

 

 

 

Consumer & Business Products

 

Equity

 

Common Stock

 

 

480,261

 

 

 

 

 

 

230

 

Total: Market Force Information, Inc.

 

 

 

 

 

 

 

 

668,231

 

 

 

500

 

 

 

233

 

Subtotal: Consumer & Business Products (0.03%)*

 

 

 

 

 

 

 

 

 

 

500

 

 

 

233

 

 

Diagnostic

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Singulex, Inc.

 

Diagnostic

 

Equity

 

Common Stock

 

 

937,998

 

 

 

750

 

 

 

209

 

Subtotal: Diagnostic (0.03%)*

 

 

 

 

 

 

 

 

 

 

750

 

 

 

209

 

 

Drug Delivery

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

AcelRx Pharmaceuticals, Inc. (3)(9)(13)

 

Drug Delivery

 

Equity

 

Common Stock

 

 

54,240

 

 

 

108

 

 

 

230

 

Edge Therapeutics, Inc.

 

Drug Delivery

 

Equity

 

Preferred Series C-2

 

 

215,053

 

 

 

1,000

 

 

 

1,072

 

Merrion Pharmaceuticals, Plc (3)(4)(9)

 

Drug Delivery

 

Equity

 

Common Stock

 

 

20,000

 

 

 

9

 

 

 

 

Neos Therapeutics, Inc.(13)(17)

 

Drug Delivery

 

Equity

 

Preferred Series C

 

 

300,000

 

 

 

1,500

 

 

 

1,902

 

Subtotal: Drug Delivery (0.43%)*

 

 

 

 

 

 

 

 

 

 

2,617

 

 

 

3,204

 

 

Drug Discovery & Development

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Aveo Pharmaceuticals, Inc.(3)(9)(13)

 

Drug Discovery & Development

 

Equity

 

Common Stock

 

 

167,864

 

 

 

842

 

 

 

292

 

Cerecor Inc.

 

Drug Discovery & Development

 

Equity

 

Preferred Series B

 

 

3,334,445

 

 

 

1,000

 

 

 

639

 

Cerulean Pharma Inc. (3)

 

Drug Discovery & Development

 

Equity

 

Common Stock

 

 

135,501

 

 

 

1,000

 

 

 

623

 

Dicerna Pharmaceuticals, Inc. (3)(13)

 

Drug Discovery & Development

 

Equity

 

Common Stock

 

 

142,858

 

 

 

1,000

 

 

 

1,993

 

Epirus Biopharmaceuticals, Inc. (3)

 

Drug Discovery & Development

 

Equity

 

Common Stock

 

 

200,000

 

 

 

1,000

 

 

 

1,143

 

Genocea Biosciences, Inc. (3)

 

Drug Discovery & Development

 

Equity

 

Common Stock

 

 

223,463

 

 

 

2,000

 

 

 

3,068

 

Inotek Pharmaceuticals Corporation (3)

 

Drug Discovery & Development

 

Equity

 

Common Stock

 

 

3,778

 

 

 

1,500

 

 

 

19

 

Insmed, Incorporated (3)

 

Drug Discovery & Development

 

Equity

 

Common Stock

 

 

70,771

 

 

 

1,000

 

 

 

1,728

 

Melinta Therapeutics

 

Drug Discovery & Development

 

Equity

 

Preferred Series 4

 

 

957,224

 

 

 

1,000

 

 

 

1,010

 

Paratek Pharmaceuticals, Inc. (p.k.a.

Transcept Pharmaceuticals, Inc.) (3)

 

Drug Discovery & Development

 

Equity

 

Common Stock

 

 

31,580

 

 

 

1,744

 

 

 

813

 

Subtotal: Drug Discovery & Development (1.52%)*

 

 

 

 

 

 

 

 

 

 

12,086

 

 

 

11,328

 

 

Electronics & Computer Hardware

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Identiv, Inc. (3)

 

Electronics & Computer Hardware

 

Equity

 

Common Stock

 

 

6,700

 

 

 

34

 

 

 

39

 

Subtotal: Electronics & Computer Hardware (0.01%)*

 

 

 

 

 

 

 

 

 

 

34

 

 

 

39

 

 

Energy Technology

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Glori Energy, Inc. (3)

 

Energy Technology

 

Equity

 

Common Stock

 

 

18,208

 

 

 

165

 

 

 

26

 

Modumetal, Inc.

 

Energy Technology

 

Equity

 

Preferred Series C

 

 

3,107,520

 

 

 

500

 

 

 

500

 

SCIEnergy, Inc.

 

Energy Technology

 

Equity

 

Preferred Series 1

 

 

385,000

 

 

 

761

 

 

 

21

 

Subtotal: Energy Technology (0.07%)*

 

 

 

 

 

 

 

 

 

 

1,426

 

 

 

547

 

 

Information Services

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Good Technology Corporation (p.k.a. Visto Corporation) (13)

 

Information Services

 

Equity

 

Common Stock

 

 

500,000

 

 

 

603

 

 

 

584

 

Subtotal: Information Services (0.08%)*

 

 

 

 

 

 

 

 

 

 

603

 

 

 

584

 

 

Internet Consumer & Business Services

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Blurb, Inc. (13)

 

Internet Consumer & Business Services

 

Equity

 

Preferred Series B

 

 

220,653

 

 

 

175

 

 

 

283

 

Lightspeed POS, Inc. (4)(9)

 

Internet Consumer & Business Services

 

Equity

 

Preferred Series C

 

 

23,003

 

 

 

250

 

 

 

280

 

Oportun (p.k.a. Progress Financial)

 

Internet Consumer & Business Services

 

Equity

 

Preferred Series G

 

 

218,351

 

 

 

250

 

 

 

356

 

 

 

Internet Consumer & Business Services

 

Equity

 

Preferred Series H

 

 

87,802

 

 

 

250

 

 

 

251

 

Total: Oportun (p.k.a. Progress Financial)

 

 

 

 

 

 

306,153

 

 

 

500

 

 

 

607

 

Philotic, Inc.

 

Internet Consumer & Business Services

 

Equity

 

Common Stock

 

 

9,023

 

 

 

93

 

 

 

 

RazorGator Interactive Group, Inc.

 

Internet Consumer & Business Services

 

Equity

 

Preferred Series AA

 

 

34,783

 

 

 

15

 

 

 

35

 

Taptera, Inc.

 

Internet Consumer & Business Services

 

Equity

 

Preferred Series B

 

 

454,545

 

 

 

150

 

 

 

182

 

Subtotal: Internet Consumer & Business Services (0.19%)*

 

 

 

 

 

 

 

 

 

 

1,183

 

 

 

1,387

 

See notes to consolidated financial statements.

15


 

HERCULES TECHNOLOGY GROWTH CAPITAL, INC.

CONSOLIDATED SCHEDULE OF INVESTMENTS

June 30, 2015

(unaudited)

(dollars in thousands)

 

Portfolio Company

 

Sub-Industry

 

Type of

Investment (1)

 

Series

 

Shares

 

 

Cost(2)

 

 

Value(3)

 

Medical Devices & Equipment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Flowonix Medical Incorporated

 

Medical Devices & Equipment

 

Equity

 

Preferred Series E

 

 

221,893

 

 

$

1,500

 

 

$

2,048

 

Gelesis, Inc. (5)(13)

 

Medical Devices & Equipment

 

Equity

 

Common Stock

 

 

198,202

 

 

 

 

 

 

657

 

 

 

Medical Devices & Equipment

 

Equity

 

Preferred Series A-1

 

 

674,208

 

 

 

425

 

 

 

736

 

 

 

Medical Devices & Equipment

 

Equity

 

Preferred Series A-2

 

 

675,676

 

 

 

500

 

 

 

685

 

Total: Gelesis, Inc.

 

 

 

 

 

 

 

 

1,548,086

 

 

 

925

 

 

 

2,078

 

Home Dialysis Plus, Inc.

 

Medical Devices & Equipment

 

Equity

 

Preferred Series B

 

 

232,061

 

 

 

527

 

 

 

541

 

Medrobotics Corporation (13)

 

Medical Devices & Equipment

 

Equity

 

Preferred Series E

 

 

136,798

 

 

 

250

 

 

 

160

 

 

 

Medical Devices & Equipment

 

Equity

 

Preferred Series F

 

 

73,971

 

 

 

155

 

 

 

176

 

Total: Medrobotics Corporation

 

 

 

 

 

 

 

 

210,769

 

 

 

405

 

 

 

336

 

Novasys Medical, Inc.

 

Medical Devices & Equipment

 

Equity

 

Preferred Series D-1

 

 

4,118,444

 

 

 

1,000

 

 

 

 

Optiscan Biomedical, Corp. (5)(13)

 

Medical Devices & Equipment

 

Equity

 

Preferred Series B

 

 

6,185,567

 

 

 

3,000

 

 

 

545

 

 

 

Medical Devices & Equipment

 

Equity

 

Preferred Series C

 

 

1,927,309

 

 

 

655

 

 

 

163

 

 

 

Medical Devices & Equipment

 

Equity

 

Preferred Series D

 

 

55,103,923

 

 

 

5,257

 

 

 

5,695

 

Total: Optiscan Biomedical, Corp.

 

 

 

 

 

 

 

 

63,216,799

 

 

 

8,912

 

 

 

6,403

 

Oraya Therapeutics, Inc.

 

Medical Devices & Equipment

 

Equity

 

Preferred Series 1

 

 

1,086,969

 

 

 

500

 

 

 

375

 

Subtotal: Medical Devices & Equipment (1.58%)*

 

 

 

 

 

 

 

 

 

 

13,769

 

 

 

11,781

 

 

Software

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Atrenta, Inc.

 

Software

 

Equity

 

Preferred Series C

 

 

1,196,845

 

 

 

986

 

 

 

1,639

 

 

 

Software

 

Equity

 

Preferred Series D

 

 

1,028,183

 

 

 

959

 

 

 

1,550

 

Total: Atrenta, Inc.

 

 

 

 

 

 

 

 

2,225,028

 

 

 

1,945

 

 

 

3,189

 

Box, Inc. (3)(13)

 

Software

 

Equity

 

Common Stock

 

 

1,464,747

 

 

 

5,818

 

 

 

27,303

 

CapLinked, Inc.

 

Software

 

Equity

 

Preferred Series A-3

 

 

53,614

 

 

 

51

 

 

 

84

 

ForeScout Technologies, Inc.

 

Software

 

Equity

 

Preferred Series D

 

 

319,099

 

 

 

398

 

 

 

653

 

 

 

Software

 

Equity

 

Preferred Series E

 

 

80,587

 

 

 

131

 

 

 

168

 

Total: ForeScout Technologies, Inc.

 

 

 

 

 

 

 

 

399,686

 

 

 

529

 

 

 

821

 

HighRoads, Inc.

 

Software

 

Equity

 

Preferred Series B

 

 

190,170

 

 

 

307

 

 

 

233

 

NewVoiceMedia Limited (4)(9)

 

Software

 

Equity

 

Preferred Series E

 

 

669,173

 

 

 

963

 

 

 

1,010

 

WildTangent, Inc.(13)

 

Software

 

Equity

 

Preferred Series 3

 

 

100,000

 

 

 

402

 

 

 

238

 

Subtotal: Software (4.42%)*

 

 

 

 

 

 

 

 

 

 

10,015

 

 

 

32,878

 

 

Specialty Pharmaceuticals

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

QuatRx Pharmaceuticals Company

 

Specialty Pharmaceuticals

 

Equity

 

Preferred Series E

 

 

241,829

 

 

 

750

 

 

 

 

 

 

Specialty Pharmaceuticals

 

Equity

 

Preferred Series E-1

 

 

26,955

 

 

 

 

 

 

 

 

 

Specialty Pharmaceuticals

 

Equity

 

Preferred Series G

 

 

4,667,636

 

 

 

 

 

 

 

Total: QuatRx Pharmaceuticals Company

 

 

 

 

 

 

4,936,420

 

 

 

750

 

 

 

 

Subtotal: Specialty Pharmaceuticals (0.00%)*

 

 

 

 

 

 

 

 

 

 

750

 

 

 

 

 

Surgical Devices

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gynesonics, Inc. (13)

 

Surgical Devices

 

Equity

 

Preferred Series B

 

 

219,298

 

 

 

250

 

 

 

105

 

 

 

Surgical Devices

 

Equity

 

Preferred Series C

 

 

656,538

 

 

 

282

 

 

 

197

 

 

 

Surgical Devices

 

Equity

 

Preferred Series D

 

 

1,991,157

 

 

 

712

 

 

 

1,088

 

Total: Gynesonics, Inc.

 

 

 

 

 

 

 

 

2,866,993

 

 

 

1,244

 

 

 

1,390

 

Transmedics, Inc.

 

Surgical Devices

 

Equity

 

Preferred Series B

 

 

88,961

 

 

 

1,100

 

 

 

217

 

 

 

Surgical Devices

 

Equity

 

Preferred Series C

 

 

119,999

 

 

 

300

 

 

 

149

 

 

 

Surgical Devices

 

Equity

 

Preferred Series D

 

 

260,000

 

 

 

650

 

 

 

661

 

Total: Transmedics, Inc.

 

Surgical Devices

 

Equity

 

Preferred Series D

 

 

468,960

 

 

 

2,050

 

 

 

1,027

 

Subtotal: Surgical Devices (0.33%)*

 

 

 

 

 

 

 

 

 

 

3,294

 

 

 

2,417

 

Total: Equity Investments (9.57%)*

 

 

 

 

 

 

 

 

 

 

48,629

 

 

 

71,194

 

 

See notes to consolidated financial statements.

16


 

HERCULES TECHNOLOGY GROWTH CAPITAL, INC.

CONSOLIDATED SCHEDULE OF INVESTMENTS

June 30, 2015

(unaudited)

(dollars in thousands)

 

Portfolio Company

 

Sub-Industry

 

Type of

Investment (1)

 

Series

 

Shares

 

 

Cost(2)

 

 

Value(3)

 

Warrant Investments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Biotechnology Tools

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Labcyte, Inc. (13)

 

Biotechnology Tools

 

Warrant

 

Preferred Series C

 

 

1,127,624

 

 

$

323

 

 

$

421

 

Subtotal: Biotechnology Tools (0.06%)*

 

 

 

 

 

 

 

 

 

 

323

 

 

 

421

 

 

Communications & Networking

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Intelepeer, Inc. (13)

 

Communications & Networking

 

Warrant

 

Preferred Series C

 

 

117,958

 

 

 

102

 

 

 

 

OpenPeak, Inc.

 

Communications & Networking

 

Warrant

 

Common Stock

 

 

108,982

 

 

 

148

 

 

 

 

PeerApp, Inc.

 

Communications & Networking

 

Warrant

 

Preferred Series B

 

 

298,779

 

 

 

61

 

 

 

81

 

Peerless Network, Inc.

 

Communications & Networking

 

Warrant

 

Preferred Series A

 

 

135,000

 

 

 

95

 

 

 

608

 

Ping Identity Corporation

 

Communications & Networking

 

Warrant

 

Preferred Series B

 

 

1,136,277

 

 

 

52

 

 

 

234

 

SkyCross, Inc. (13)

 

Communications & Networking

 

Warrant

 

Preferred Series F

 

 

9,762,777

 

 

 

394

 

 

 

 

Spring Mobile Solutions, Inc.

 

Communications & Networking

 

Warrant

 

Preferred Series D

 

 

2,834,375

 

 

 

418

 

 

 

181

 

Subtotal: Communications & Networking (0.15%)*

 

 

 

 

 

 

 

 

 

 

1,270

 

 

 

1,104

 

 

Consumer & Business Products

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Antenna79 (p.k.a. Pong Research Corporation)(13)

 

Consumer & Business Products

 

Warrant

 

Preferred Series A

 

 

1,662,441

 

 

 

228

 

 

 

28

 

Intelligent Beauty, Inc. (13)

 

Consumer & Business Products

 

Warrant

 

Preferred Series B

 

 

190,234

 

 

 

230

 

 

 

272

 

IronPlanet, Inc.

 

Consumer & Business Products

 

Warrant

 

Preferred Series D

 

 

1,155,821

 

 

 

1,076

 

 

 

1,092

 

Market Force Information, Inc.

 

Consumer & Business Products

 

Warrant

 

Preferred Series A-1

 

 

150,212

 

 

 

25

 

 

 

10

 

The Neat Company (13)

 

Consumer & Business Products

 

Warrant

 

Preferred Series C-1

 

 

540,540

 

 

 

365

 

 

 

280

 

Subtotal: Consumer & Business Products (0.23%)*

 

 

 

 

 

 

 

 

 

 

1,924

 

 

 

1,682

 

 

Diagnostic

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Navidea Biopharmaceuticals, Inc. (p.k.a. Neoprobe) (3)(13)

 

Diagnostic

 

Warrant

 

Common Stock

 

 

333,333

 

 

 

244

 

 

 

42

 

Subtotal: Diagnostic (0.01%)*

 

 

 

 

 

 

 

 

 

 

244

 

 

 

42

 

 

Drug Delivery

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

AcelRx Pharmaceuticals, Inc. (3)(9)(13)

 

Drug Delivery

 

Warrant

 

Common Stock

 

 

176,730

 

 

 

786

 

 

 

231

 

Agile Therapeutics, Inc (3)

 

Drug Delivery

 

Warrant

 

Common Stock

 

 

180,274

 

 

 

730

 

 

 

607

 

BIND Therapeutics, Inc. (3)(13)

 

Drug Delivery

 

Warrant

 

Common Stock

 

 

152,586

 

 

 

488

 

 

 

77

 

BioQuiddity Incorporated

 

Drug Delivery

 

Warrant

 

Common Stock

 

 

459,183

 

 

 

1

 

 

 

 

Celator Pharmaceuticals, Inc. (3)

 

Drug Delivery

 

Warrant

 

Common Stock

 

 

210,675

 

 

 

138

 

 

 

106

 

Celsion Corporation (3)

 

Drug Delivery

 

Warrant

 

Common Stock

 

 

194,986

 

 

 

428

 

 

 

68

 

Dance Biopharm, Inc.(13)

 

Drug Delivery

 

Warrant

 

Preferred Series A

 

 

97,701

 

 

 

74

 

 

 

60

 

Edge Therapeutics, Inc.

 

Drug Delivery

 

Warrant

 

Preferred Series C-1

 

 

107,526

 

 

 

390

 

 

 

303

 

Egalet Corporation (3)

 

Drug Delivery

 

Warrant

 

Common Stock

 

 

113,421

 

 

 

130

 

 

 

853

 

Kaleo, Inc. (p.k.a. Intelliject, Inc.)

 

Drug Delivery

 

Warrant

 

Preferred Series B

 

 

82,500

 

 

 

594

 

 

 

1,313

 

Neos Therapeutics, Inc.(13)(17)

 

Drug Delivery

 

Warrant

 

Preferred Series C

 

 

170,000

 

 

 

285

 

 

 

332

 

Pulmatrix Inc. (3)

 

Drug Delivery

 

Warrant

 

Common Stock

 

 

25,150

 

 

 

116

 

 

 

85

 

Revance Therapeutics, Inc. (3)

 

Drug Delivery

 

Warrant

 

Common Stock

 

 

53,511

 

 

 

557

 

 

 

460

 

ZP Opco, Inc. (p.k.a. Zosano Pharma) (3)

 

Drug Delivery

 

Warrant

 

Common Stock

 

 

72,379

 

 

 

265

 

 

 

130

 

Subtotal: Drug Delivery (0.62%)*

 

 

 

 

 

 

 

 

 

 

4,982

 

 

 

4,625

 

 

See notes to consolidated financial statements.

17


 

HERCULES TECHNOLOGY GROWTH CAPITAL, INC.

CONSOLIDATED SCHEDULE OF INVESTMENTS

June 30, 2015

(unaudited)

(dollars in thousands)

 

Portfolio Company

 

Sub-Industry

 

Type of

Investment (1)

 

Series

 

Shares

 

 

Cost(2)

 

 

Value(3)

 

Drug Discovery & Development

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ADMA Biologics, Inc. (3)

 

Drug Discovery & Development

 

Warrant

 

Common Stock

 

 

89,750

 

 

$

295

 

 

$

239

 

Anthera Pharmaceuticals, Inc. (3)(13)

 

Drug Discovery & Development

 

Warrant

 

Common Stock

 

 

40,178

 

 

 

984

 

 

 

4

 

Aveo Pharmaceuticals, Inc. (3)(9)(13)

 

Drug Discovery & Development

 

Warrant

 

Common Stock

 

 

608,696

 

 

 

194

 

 

 

380

 

Cerecor Inc.

 

Drug Discovery & Development

 

Warrant

 

Preferred Series B

 

 

625,208

 

 

 

70

 

 

 

15

 

Cerulean Pharma Inc. (3)

 

Drug Discovery & Development

 

Warrant

 

Common Stock

 

 

137,521

 

 

 

357

 

 

 

203

 

Chroma Therapeutics, Ltd. (4)(9)

 

Drug Discovery & Development

 

Warrant

 

Preferred Series D

 

 

325,261

 

 

 

490

 

 

 

 

Cleveland BioLabs, Inc. (3)(13)

 

Drug Discovery & Development

 

Warrant

 

Common Stock

 

 

7,813

 

 

 

105

 

 

 

9

 

Concert Pharmaceuticals, Inc. (3)

 

Drug Discovery & Development

 

Warrant

 

Common Stock

 

 

70,796

 

 

 

367

 

 

 

216

 

Coronado Biosciences, Inc. (3)

 

Drug Discovery & Development

 

Warrant

 

Common Stock

 

 

73,009

 

 

 

142

 

 

 

61

 

CTI BioPharma Corp. (p.k.a. Cell Therapeutics, Inc.) (3)

 

Drug Discovery & Development

 

Warrant

 

Common Stock

 

 

292,398

 

 

 

166

 

 

 

163

 

Dicerna Pharmaceuticals, Inc. (3)(13)

 

Drug Discovery & Development

 

Warrant

 

Common Stock

 

 

200

 

 

 

28

 

 

 

 

Epirus Biopharmaceuticals, Inc. (3)

 

Drug Discovery & Development

 

Warrant

 

Common Stock

 

 

64,194

 

 

 

276

 

 

 

209

 

Genocea Biosciences, Inc. (3)

 

Drug Discovery & Development

 

Warrant

 

Common Stock

 

 

73,725

 

 

 

266

 

 

 

466

 

Horizon Pharma, Inc. (3)

 

Drug Discovery & Development

 

Warrant

 

Common Stock

 

 

3,735

 

 

 

52

 

 

 

51

 

Melinta Therapeutics

 

Drug Discovery & Development

 

Warrant

 

Preferred Series 3

 

 

1,151,936

 

 

 

603

 

 

 

362

 

Nanotherapeutics, Inc.(13)

 

Drug Discovery & Development

 

Warrant

 

Common Stock

 

 

171,389

 

 

 

838

 

 

 

2,788

 

Neothetics, Inc. (p.k.a. Lithera, Inc) (3)(13)

 

Drug Discovery & Development

 

Warrant

 

Common Stock

 

 

46,838

 

 

 

266

 

 

 

143

 

Neuralstem, Inc. (3)(13)

 

Drug Discovery & Development

 

Warrant

 

Common Stock

 

 

75,187

 

 

 

77

 

 

 

43

 

Paratek Pharmaceutcals, Inc. (p.k.a. Transcept Pharmaceuticals, Inc.) (3)

 

Drug Discovery & Development

 

Warrant

 

Common Stock

 

 

5,121

 

 

 

87

 

 

 

2

 

uniQure B.V. (3)(4)(9)

 

Drug Discovery & Development

 

Warrant

 

Common Stock

 

 

37,174

 

 

 

218

 

 

 

447

 

XOMA Corporation (3)(9)(13)

 

Drug Discovery & Development

 

Warrant

 

Common Stock

 

 

181,268

 

 

 

279

 

 

 

291

 

Subtotal: Drug Discovery & Development (0.82%)*

 

 

 

 

 

 

 

 

 

 

6,160

 

 

 

6,092

 

 

Electronics & Computer Hardware

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Clustrix, Inc.

 

Electronics & Computer Hardware

 

Warrant

 

Common Stock

 

 

50,000

 

 

 

12

 

 

 

7

 

Subtotal: Electronics & Computer Hardware (0.00%)*

 

 

 

 

 

 

 

 

 

 

12

 

 

 

7

 

 

Energy Technology

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Agrivida, Inc. (13)

 

Energy Technology

 

Warrant

 

Preferred Series D

 

 

471,327

 

 

 

120

 

 

 

162

 

Alphabet Energy, Inc.(13)

 

Energy Technology

 

Warrant

 

Preferred Series A

 

 

86,329

 

 

 

82

 

 

 

162

 

American Superconductor Corporation (3)

 

Energy Technology

 

Warrant

 

Common Stock

 

 

58,823

 

 

 

39

 

 

 

51

 

Brightsource Energy, Inc. (13)

 

Energy Technology

 

Warrant

 

Preferred Series 1

 

 

175,000

 

 

 

780

 

 

 

119

 

Calera, Inc. (13)

 

Energy Technology

 

Warrant

 

Preferred Series C

 

 

44,529

 

 

 

513

 

 

 

 

EcoMotors, Inc.(13)

 

Energy Technology

 

Warrant

 

Preferred Series B

 

 

437,500

 

 

 

308

 

 

 

154

 

Fluidic, Inc.

 

Energy Technology

 

Warrant

 

Preferred Series D

 

 

61,804

 

 

 

102

 

 

 

28

 

Fulcrum Bioenergy, Inc.

 

Energy Technology

 

Warrant

 

Preferred Series C-1

 

 

280,897

 

 

 

275

 

 

 

102

 

GreatPoint Energy, Inc.(13)

 

Energy Technology

 

Warrant

 

Preferred Series D-1

 

 

393,212

 

 

 

548

 

 

 

 

Polyera Corporation (13)

 

Energy Technology

 

Warrant

 

Preferred Series C

 

 

311,609

 

 

 

338

 

 

 

509

 

Proterra, Inc.

 

Energy Technology

 

Warrant

 

Preferred Series 4

 

 

318,345

 

 

 

21

 

 

 

140

 

SCIEnergy, Inc.

 

Energy Technology

 

Warrant

 

Common Stock

 

 

530,811

 

 

 

181

 

 

 

 

 

 

Energy Technology

 

Warrant

 

Preferred Series 1

 

 

145,811

 

 

 

50

 

 

 

 

Total: SCIEnergy, Inc.

 

 

 

 

 

 

 

 

676,622

 

 

 

231

 

 

 

 

Scifiniti (p.k.a. Integrated Photovoltaics, Inc.) (13)

 

Energy Technology

 

Warrant

 

Preferred Series A-1

 

 

390,000

 

 

 

82

 

 

 

66

 

Solexel, Inc.(13)

 

Energy Technology

 

Warrant

 

Preferred Series C

 

 

1,171,625

 

 

 

1,162

 

 

 

517

 

Stion Corporation (5)

 

Energy Technology

 

Warrant

 

Preferred Series Seed

 

 

2,154

 

 

 

1,378

 

 

 

 

Sungevity Development, LLC

 

Energy Technology

 

Warrant

 

Preferred Series C

 

 

32,472,222

 

 

 

902

 

 

 

1,012

 

TAS Energy, Inc.

 

Energy Technology

 

Warrant

 

Preferred Series AA

 

 

428,571

 

 

 

299

 

 

 

 

Tendril Networks

 

Energy Technology

 

Warrant

 

Preferred Series 3-A

 

 

679,862

 

 

 

111

 

 

 

111

 

TPI Composites, Inc.

 

Energy Technology

 

Warrant

 

Preferred Series B

 

 

160

 

 

 

273

 

 

 

241

 

Trilliant, Inc.(13)

 

Energy Technology

 

Warrant

 

Preferred Series A

 

 

320,000

 

 

 

162

 

 

 

20

 

Subtotal: Energy Technology (0.46%)*

 

 

 

 

 

 

 

 

 

 

7,726

 

 

 

3,394

 

 

Healthcare Services, Other

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Chromadex Corporation (3)(13)

 

Healthcare Services, Other

 

Warrant

 

Common Stock

 

 

419,020

 

 

 

157

 

 

 

181

 

Subtotal: Healthcare Services, Other (0.02%)*

 

 

 

 

 

 

 

 

 

 

157

 

 

 

181

 

 

See notes to consolidated financial statements.

18


 

HERCULES TECHNOLOGY GROWTH CAPITAL, INC.

CONSOLIDATED SCHEDULE OF INVESTMENTS

June 30, 2015

(unaudited)

(dollars in thousands)

 

Portfolio Company

 

Sub-Industry

 

Type of

Investment (1)

 

Series

 

Shares

 

 

Cost(2)

 

 

Value(3)

 

Information Services

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cha Cha Search, Inc.(13)

 

Information Services

 

Warrant

 

Preferred Series G

 

 

48,232

 

 

$

58

 

 

$

6

 

INMOBI Inc. (4)(9)

 

Information Services

 

Warrant

 

Common Stock

 

 

46,874

 

 

 

82

 

 

 

24

 

InXpo, Inc. (13)

 

Information Services

 

Warrant

 

Preferred Series C

 

 

648,400

 

 

 

98

 

 

 

10

 

 

 

Information Services

 

Warrant

 

Preferred Series C-1

 

 

873,599

 

 

 

64

 

 

 

13

 

Total: InXpo, Inc.

 

 

 

 

 

 

 

 

1,521,999

 

 

 

162

 

 

 

23

 

RichRelevance, Inc.(13)

 

Information Services

 

Warrant

 

Preferred Series E

 

 

112,612

 

 

 

98

 

 

 

 

Subtotal: Information Services (0.01%)*

 

 

 

 

 

 

 

 

 

 

400

 

 

 

53

 

 

Internet Consumer & Business Services

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Aria Systems, Inc.

 

Internet Consumer & Business Services

 

Warrant

 

Preferred Series E

 

 

119,846

 

 

 

37

 

 

 

36

 

Blurb, Inc. (13)

 

Internet Consumer & Business Services

 

Warrant

 

Preferred Series C

 

 

234,280

 

 

 

636

 

 

 

188

 

CashStar, Inc.(13)

 

Internet Consumer & Business Services

 

Warrant

 

Preferred Series C-2

 

 

727,272

 

 

 

130

 

 

 

51

 

Gazelle, Inc. (13)

 

Internet Consumer & Business Services

 

Warrant

 

Preferred Series A-1

 

 

991,288

 

 

 

158

 

 

 

94

 

Just Fabulous, Inc.

 

Internet Consumer & Business Services

 

Warrant

 

Preferred Series B

 

 

206,184

 

 

 

1,102

 

 

 

1,356

 

Lightspeed POS, Inc. (4)(9)

 

Internet Consumer & Business Services

 

Warrant

 

Preferred Series C

 

 

24,561

 

 

 

20

 

 

 

73

 

Oportun (p.k.a. Progress Financial)

 

Internet Consumer & Business Services

 

Warrant

 

Preferred Series G

 

 

174,562

 

 

 

78

 

 

 

97

 

Prism Education Group, Inc. (13)

 

Internet Consumer & Business Services

 

Warrant

 

Preferred Series B

 

 

200,000

 

 

 

43

 

 

 

 

ReachLocal (3)

 

Internet Consumer & Business Services

 

Warrant

 

Common Stock

 

 

177,304

 

 

 

155

 

 

 

191

 

ShareThis, Inc.(13)

 

Internet Consumer & Business Services

 

Warrant

 

Preferred Series C

 

 

493,502

 

 

 

547

 

 

 

266

 

Tapjoy, Inc.

 

Internet Consumer & Business Services

 

Warrant

 

Preferred Series D

 

 

748,670

 

 

 

316

 

 

 

103

 

Tectura Corporation

 

Internet Consumer & Business Services

 

Warrant

 

Preferred Series B-1

 

 

253,378

 

 

 

51

 

 

 

 

Subtotal: Internet Consumer & Business Services (0.33%)*

 

 

 

 

 

 

 

 

 

 

3,273

 

 

 

2,455

 

 

Media/Content/Info

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Machine Zone, Inc.

 

Media/Content/Info

 

Warrant

 

Common Stock

 

 

73,756

 

 

 

918

 

 

 

848

 

Rhapsody International, Inc.(13)

 

Media/Content/Info

 

Warrant

 

Common Stock

 

 

715,755

 

 

 

384

 

 

 

220

 

Zoom Media Group, Inc.

 

Media/Content/Info

 

Warrant

 

Preferred Series A

 

 

1,204

 

 

 

348

 

 

 

110

 

Subtotal: Media/Content/Info (0.16%)*

 

 

 

 

 

 

 

 

 

 

1,650

 

 

 

1,178

 

 

Medical Devices & Equipment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amedica Corporation (3)(13)

 

Medical Devices & Equipment

 

Warrant

 

Common Stock

 

 

516,129

 

 

 

459

 

 

 

 

Aspire Bariatrics, Inc.(13)

 

Medical Devices & Equipment

 

Warrant

 

Preferred Series D

 

 

335,000

 

 

 

419

 

 

 

426

 

Avedro, Inc.(13)

 

Medical Devices & Equipment

 

Warrant

 

Preferred Series D

 

 

1,308,451

 

 

 

401

 

 

 

228

 

Flowonix Medical Incorporated

 

Medical Devices & Equipment

 

Warrant

 

Preferred Series E

 

 

110,947

 

 

 

203

 

 

 

460

 

Gamma Medica, Inc.

 

Medical Devices & Equipment

 

Warrant

 

Preferred Series A

 

 

357,500

 

 

 

170

 

 

 

183

 

Gelesis, Inc.(5)(13)

 

Medical Devices & Equipment

 

Warrant

 

Preferred Series A-1

 

 

263,688

 

 

 

78

 

 

 

157

 

Home Dialysis Plus, Inc.

 

Medical Devices & Equipment

 

Warrant

 

Preferred Series A

 

 

500,000

 

 

 

402

 

 

 

245

 

InspireMD, Inc. (3)(4)(9)

 

Medical Devices & Equipment

 

Warrant

 

Common Stock

 

 

168,351

 

 

 

242

 

 

 

2

 

Medrobotics Corporation(13)

 

Medical Devices & Equipment

 

Warrant

 

Preferred Series E

 

 

455,539

 

 

 

370

 

 

 

199

 

MELA Sciences, Inc. (3)

 

Medical Devices & Equipment

 

Warrant

 

Common Stock

 

 

69,320

 

 

 

402

 

 

 

2

 

nContact Surgical, Inc.(13)

 

Medical Devices & Equipment

 

Warrant

 

Preferred Series D-1

 

 

201,439

 

 

 

266

 

 

 

555

 

NetBio, Inc.

 

Medical Devices & Equipment

 

Warrant

 

Common Stock

 

 

2,568

 

 

 

408

 

 

 

38

 

NinePoint Medical, Inc.(13)

 

Medical Devices & Equipment

 

Warrant

 

Preferred Series A-1

 

 

587,840

 

 

 

170

 

 

 

294

 

Novasys Medical, Inc.

 

Medical Devices & Equipment

 

Warrant

 

Common Stock

 

 

109,449

 

 

 

2

 

 

 

 

 

 

Medical Devices & Equipment

 

Warrant

 

Preferred Series D

 

 

526,840

 

 

 

125

 

 

 

 

 

 

Medical Devices & Equipment

 

Warrant

 

Preferred Series D-1

 

 

53,607

 

 

 

6

 

 

 

 

Total: Novasys Medical, Inc.

 

 

 

 

 

 

 

 

689,896

 

 

 

133

 

 

 

 

Optiscan Biomedical, Corp. (5)(13)

 

Medical Devices & Equipment

 

Warrant

 

Preferred Series D

 

 

10,535,275

 

 

 

1,252

 

 

 

215

 

Oraya Therapeutics, Inc.

 

Medical Devices & Equipment

 

Warrant

 

Common Stock

 

 

954

 

 

 

66

 

 

 

 

 

 

Medical Devices & Equipment

 

Warrant

 

Preferred Series 1

 

 

1,632,084

 

 

 

676

 

 

 

87

 

Total: Oraya Therapeutics, Inc.

 

 

 

 

 

 

 

 

1,633,038

 

 

 

742

 

 

 

87

 

Quanterix Corporation

 

Medical Devices & Equipment

 

Warrant

 

Preferred Series C

 

 

115,618

 

 

 

156

 

 

 

107

 

SonaCare Medical, LLC (p.k.a. US HIFU, LLC)

 

Medical Devices & Equipment

 

Warrant

 

Preferred Series A

 

 

6,464

 

 

 

188

 

 

 

 

ViewRay, Inc.(13)(17)

 

Medical Devices & Equipment

 

Warrant

 

Preferred Series C

 

 

43,103

 

 

 

333

 

 

 

306

 

Subtotal: Medical Devices & Equipment (0.47%)*

 

 

 

 

 

 

 

 

 

 

6,794

 

 

 

3,504

 

 

See notes to consolidated financial statements.

19


 

HERCULES TECHNOLOGY GROWTH CAPITAL, INC.

CONSOLIDATED SCHEDULE OF INVESTMENTS

June 30, 2015

(unaudited)

(dollars in thousands)

 

Portfolio Company

 

Sub-Industry

 

Type of

Investment (1)

 

Series

 

Shares

 

 

Cost(2)

 

 

Value(3)

 

Semiconductors

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Achronix Semiconductor Corporation (13)

 

Semiconductors

 

Warrant

 

Preferred Series C

 

 

360,000

 

 

$

160

 

 

$

22

 

 

 

Semiconductors

 

Warrant

 

Preferred Series D-1

 

 

500,000

 

 

 

6

 

 

 

6

 

Total: Achronix Semiconductor Corporation

 

 

 

 

 

 

860,000

 

 

 

166

 

 

 

28

 

Aquantia Corp.

 

Semiconductors

 

Warrant

 

Preferred Series G

 

 

196,831

 

 

 

4

 

 

 

8

 

Avnera Corporation

 

Semiconductors

 

Warrant

 

Preferred Series E

 

 

141,567

 

 

 

47

 

 

 

34

 

Subtotal: Semiconductors (0.01%)*

 

 

 

 

 

 

 

 

 

 

217

 

 

 

70

 

 

Software

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Braxton Technologies, LLC

 

Software

 

Warrant

 

Preferred Series A

 

 

168,750

 

 

 

188

 

 

 

 

CareCloud Corporation (13)

 

Software

 

Warrant

 

Preferred Series B

 

 

413,433

 

 

 

258

 

 

 

581

 

Clickfox, Inc. (13)

 

Software

 

Warrant

 

Preferred Series B

 

 

1,038,563

 

 

 

330

 

 

 

648

 

 

 

Software

 

Warrant

 

Preferred Series C

 

 

592,019

 

 

 

730

 

 

 

439

 

 

 

Software

 

Warrant

 

Preferred Series C-A

 

 

46,109

 

 

 

13

 

 

 

29

 

Total: Clickfox, Inc.

 

 

 

 

 

 

 

 

1,676,691

 

 

 

1,073

 

 

 

1,116

 

Daegis Inc. (p.k.a. Unify Corporation) (3)(13)

 

Software

 

Warrant

 

Common Stock

 

 

718,860

 

 

 

1,434

 

 

 

3

 

Hillcrest Laboratories, Inc.(13)

 

Software

 

Warrant

 

Preferred Series E

 

 

1,865,650

 

 

 

55

 

 

 

135

 

JumpStart Games, Inc. (p.k.a Knowledge Holdings, Inc.)(13)

 

Software

 

Warrant

 

Preferred Series E

 

 

614,333

 

 

 

16

 

 

 

 

Message Systems, Inc. (13)

 

Software

 

Warrant

 

Preferred Series B

 

 

408,011

 

 

 

334

 

 

 

386

 

Mobile Posse, Inc.(13)

 

Software

 

Warrant

 

Preferred Series C

 

 

396,430

 

 

 

130

 

 

 

61

 

Neos Geosolutions, Inc. (13)

 

Software

 

Warrant

 

Preferred Series 3

 

 

221,150

 

 

 

22

 

 

 

185

 

NewVoiceMedia Limited (4)(9)

 

Software

 

Warrant

 

Preferred Series E

 

 

225,586

 

 

 

33

 

 

 

46

 

Poplicus Incorporated (13)

 

Software

 

Warrant

 

Preferred Series C

 

 

2,595,230

 

 

 

 

 

 

90

 

Soasta, Inc.(13)

 

Software

 

Warrant

 

Preferred Series E

 

 

410,800

 

 

 

691

 

 

 

636

 

Sonian, Inc.(13)

 

Software

 

Warrant

 

Preferred Series C

 

 

185,949

 

 

 

106

 

 

 

45

 

StrongView Systems, Inc.

 

Software

 

Warrant

 

Preferred Series C

 

 

551,470

 

 

 

168

 

 

 

221

 

Touchcommerce, Inc.(13)

 

Software

 

Warrant

 

Preferred Series E

 

 

1,885,930

 

 

 

361

 

 

 

228

 

Subtotal: Software (0.50%)*

 

 

 

 

 

 

 

 

 

 

4,869

 

 

 

3,733

 

 

Specialty Pharmaceuticals

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Alimera Sciences, Inc. (3)

 

Specialty Pharmaceuticals

 

Warrant

 

Common Stock

 

 

285,016

 

 

 

729

 

 

 

423

 

QuatRx Pharmaceuticals Company

 

Specialty Pharmaceuticals

 

Warrant

 

Preferred Series E

 

 

155,324

 

 

 

307

 

 

 

 

Subtotal: Specialty Pharmaceuticals (0.06%)*

 

 

 

 

 

 

 

 

 

 

1,036

 

 

 

423

 

 

See notes to consolidated financial statements.

20


 

HERCULES TECHNOLOGY GROWTH CAPITAL, INC.

CONSOLIDATED SCHEDULE OF INVESTMENTS

June 30, 2015

(unaudited)

(dollars in thousands)

 

Portfolio Company

 

Sub-Industry

 

Type of

Investment (1)

 

Series

 

Shares

 

 

Cost(2)

 

 

Value(3)

 

Surgical Devices

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gynesonics, Inc.(13)

 

Surgical Devices

 

Warrant

 

Preferred Series C

 

 

180,480

 

 

$

75

 

 

$

51

 

 

 

Surgical Devices

 

Warrant

 

Preferred Series D

 

 

1,575,965

 

 

 

320

 

 

 

582

 

Total: Gynesonics, Inc.

 

 

 

 

 

 

 

 

1,756,445

 

 

 

395

 

 

 

633

 

Transmedics, Inc.

 

Surgical Devices

 

Warrant

 

Preferred Series B

 

 

40,436

 

 

 

224

 

 

 

4

 

 

 

Surgical Devices

 

Warrant

 

Preferred Series D

 

 

175,000

 

 

 

100

 

 

 

241

 

Total: Transmedics, Inc.

 

 

 

 

 

 

 

 

215,436

 

 

 

324

 

 

 

245

 

Subtotal: Surgical Devices (0.12%)*

 

 

 

 

 

 

 

 

 

 

719

 

 

 

878

 

Total: Warrant Investments (4.01%)*

 

 

 

 

 

 

 

 

 

 

41,756

 

 

 

29,842

 

Total Investments (166.55%)*

 

 

 

 

 

 

 

 

 

$

1,261,006

 

 

$

1,238,655

 

 

*

Value as a percent of net assets

(1)

Preferred and common stock, warrants, and equity interests are generally non-income producing.

(2)

Gross unrealized appreciation, gross unrealized depreciation, and net depreciation for federal income tax purposes totaled $45.7 million, $68.8 million and $23.1 million respectively. The tax cost of investments is $1.3 billion.

(3)

Except for warrants in 35 publicly traded companies and common stock in 14 publicly traded companies, all investments are restricted at June 30, 2015 and were valued at fair value as determined in good faith by the Audit Committee of the Board of Directors. No unrestricted securities of the same issuer are outstanding. The Company uses the Standard Industrial Code for classifying the industry grouping of its portfolio companies.

(4)

Non-U.S. company or the company’s principal place of business is outside the United States.

(5)

Affiliate investment that is defined under the Investment Company Act of 1940 as companies in which HTGC owns at least 5% but not more than 25% of the voting securities of the company.

(6)

Control investment that is defined under the Investment Company Act of 1940 as companies in which HTGC owns at least 25% of the voting securities of the company or has greater than 50% representation on its board. There were no control investments at June 30, 2015.

(7)

Debt is on non-accrual status at June 30, 2015, and is therefore considered non-income producing.

(8)

Denotes that all or a portion of the debt investment is convertible debt.

(9)

Indicates assets that the Company deems not “qualifying assets” under section 55(a) of the Investment Company Act of 1940, as amended. Qualifying assets must represent at least 70% of the Company’s total assets at the time of acquisition of any additional non-qualifying assets.

(10)

Denotes that all or a portion of the debt investment secures the notes offered in the Debt Securitization (as defined in Note 4).

(11)

Denotes that all or a portion of the debt investment principal includes accumulated PIK, or payment-in-kind, interest and is net of repayments.

(12)

Denotes that all or a portion of the debt investment includes an exit fee receivable.

(13)

Denotes that all or a portion of the investment in this portfolio company is held by HT II or HT III, the Company’s wholly-owned SBIC subsidiaries.

(14)

The stated ‘Maturity Date’ for the Tectura assets reflects the last extension of the forbearance period on these loans. The borrower loans remain outstanding and management is continuing to work with the borrower to satisfy the obligations. The Company’s investment team and Investment Committee continue to closely monitor developments at the borrower company.

(15)

Repayment of debt investment is delinquent within 60 days of the contractual maturity date as of June 30, 2015.

(16)

The stated PIK interest rate may be reduced to 1.50% subject to achievement of a milestone by the portfolio company.

(17)

Subsequent to June 30, 2015, this company completed an initial public offering or alternative public offering. Note that the June 30, 2015 fair value does not reflect any potential impact of the conversion of our preferred shares to common shares which may include reverse splits associated with the offering.

 

 

 

See notes to consolidated financial statements.

21


HERCULES TECHNOLOGY GROWTH CAPITAL, INC.

CONSOLIDATED SCHEDULE OF INVESTMENTS

December 31, 2014

(dollars in thousands)

 

Portfolio Company

 

Sub-Industry

 

Type of

Investment(1)

 

Maturity Date

 

Interest Rate and Floor

 

Principal

Amount

 

 

Cost(2)

 

 

Value(3)

 

Debt Investments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Biotechnology Tools

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1-5 Years Maturity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Labcyte, Inc. (10)(12)(13)

 

Biotechnology Tools

 

Senior Secured

 

June 2016

 

Interest rate PRIME + 6.70%

or Floor rate of 9.95%

 

$

2,695

 

 

$

2,869

 

 

$

2,869

 

Subtotal: 1-5 Years Maturity

 

 

 

 

 

 

 

 

 

 

 

 

2,869

 

 

 

2,869

 

Subtotal: Biotechnology Tools (0.44%)*

 

 

 

 

 

 

 

 

 

 

 

 

2,869

 

 

 

2,869

 

 

Communications & Networking

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1-5 Years Maturity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OpenPeak, Inc. (10)(12)

 

Communications & Networking

 

Senior Secured

 

April 2017

 

Interest rate PRIME + 8.75%

or Floor rate of 12.00%

 

$

12,889

 

 

 

13,193

 

 

 

13,193

 

SkyCross, Inc. (12)(13)

 

Communications & Networking

 

Senior Secured

 

January 2018

 

Interest rate PRIME + 9.70%

or Floor rate of 12.95%

 

$

22,000

 

 

 

21,580

 

 

 

20,149

 

Spring Mobile Solutions, Inc. (10)(12)

 

Communications & Networking

 

Senior Secured

 

November 2016

 

Interest rate PRIME + 8.00%

or Floor rate of 11.25%

 

$

18,840

 

 

 

18,928

 

 

 

19,116

 

Subtotal: 1-5 Years Maturity

 

 

 

 

 

 

 

 

 

 

 

 

53,701

 

 

 

52,458

 

Subtotal: Communications & Networking (7.96%)*

 

 

 

 

 

 

 

 

 

 

 

 

53,701

 

 

 

52,458

 

 

Consumer & Business Products

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1-5 Years Maturity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Antenna79 (p.k.a. Pong Research Corporation) (12)(13)

 

Consumer & Business Products

 

Senior Secured

 

December 2017

 

Interest rate PRIME + 6.75%

or Floor rate of 10.00%

 

$

5,000

 

 

 

4,912

 

 

 

4,884

 

 

 

Consumer & Business Products

 

Senior Secured

 

June 2016

 

Interest rate PRIME + 6.75%

or Floor rate of 10.00%

 

$

216

 

 

 

89

 

 

 

89

 

Total Antenna79 (p.k.a. Pong Research Corporation)

 

 

 

 

 

 

 

$

5,216

 

 

 

5,001

 

 

 

4,973

 

Fluc, Inc. (8)

 

Consumer & Business Products

 

Convertible Senior Note

 

March 2017

 

Interest rate FIXED 4.00%

 

$

100

 

 

 

100

 

 

 

100

 

IronPlanet, Inc. (12)

 

Consumer & Business Products

 

Senior Secured

 

November 2017

 

Interest rate PRIME + 6.20%

or Floor rate of 9.45%

 

$

37,500

 

 

 

36,345

 

 

 

36,345

 

The Neat Company (11)(12)(13)

 

Consumer & Business Products

 

Senior Secured

 

September 2017

 

Interest rate PRIME + 7.75% 

or Floor rate of 11.00%, 

PIK Interest 1.00%

 

$

20,061

 

 

 

19,422

 

 

 

19,422

 

Subtotal: 1-5 Years Maturity

 

 

 

 

 

 

 

 

 

 

 

 

60,868

 

 

 

60,840

 

Subtotal: Consumer & Business Products (9.23%)*

 

 

 

 

 

 

 

 

 

 

 

 

60,868

 

 

 

60,840

 

 

 

See notes to consolidated financial statements.

22


HERCULES TECHNOLOGY GROWTH CAPITAL, INC.

CONSOLIDATED SCHEDULE OF INVESTMENTS

December 31, 2014

(dollars in thousands)

 

Portfolio Company

 

Sub-Industry

 

Type of

Investment(1)

 

Maturity Date

 

Interest Rate and Floor

 

Principal

Amount

 

 

Cost(2)

 

 

Value(3)

 

 

Drug Delivery

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Under 1 Year Maturity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revance Therapeutics, Inc. (10)(12)

 

Drug Delivery

 

Senior Secured

 

March 2015

 

Interest rate PRIME + 6.60%

or Floor rate of 9.85%

 

$

2,098

 

 

$

2,458

 

 

$

2,458

 

 

 

Drug Delivery

 

Senior Secured

 

March 2015

 

Interest rate PRIME + 6.60%

or Floor rate of 9.85%

 

$

210

 

 

 

246

 

 

 

246

 

Total Revance Therapeutics, Inc.

 

 

 

 

 

 

 

$

2,308

 

 

 

2,704

 

 

 

2,704

 

Subtotal: Under 1 Year Maturity

 

 

 

 

 

 

 

 

 

 

 

 

2,704

 

 

 

2,704

 

1-5 Years Maturity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

AcelRx Pharmaceuticals, Inc.(9)(10)(12)(13)

 

Drug Delivery

 

Senior Secured

 

October 2017

 

Interest rate PRIME + 3.85%

or Floor rate of 9.10%

 

$

25,000

 

 

 

24,831

 

 

 

24,969

 

BIND Therapeutics, Inc.(12)(13)

 

Drug Delivery

 

Senior Secured

 

September 2016

 

Interest rate PRIME + 7.00%

or Floor rate of 10.25%

 

$

3,274

 

 

 

3,343

 

 

 

3,228

 

BioQuiddity Incorporated (12)

 

Drug Delivery

 

Senior Secured

 

May 2018

 

Interest rate PRIME + 8.00%

or Floor rate of 11.25%

 

$

7,500

 

 

 

7,439

 

 

 

7,439

 

Celator Pharmaceuticals, Inc. (10)(12)

 

Drug Delivery

 

Senior Secured

 

June 2018

 

Interest rate PRIME + 6.50%

or Floor rate of 9.75%

 

$

10,000

 

 

 

9,927

 

 

 

9,899

 

Celsion Corporation (10)(12)

 

Drug Delivery

 

Senior Secured

 

June 2017

 

Interest rate PRIME + 8.00%

or Floor rate of 11.25%

 

$

10,000

 

 

 

9,858

 

 

 

10,027

 

Dance Biopharm, Inc. (12)(13)

 

Drug Delivery

 

Senior Secured

 

November 2017

 

Interest rate PRIME + 7.40%

or Floor rate of 10.65%

 

$

3,905

 

 

 

3,871

 

 

 

3,864

 

Edge Therapeutics, Inc. (12)

 

Drug Delivery

 

Senior Secured

 

March 2018

 

Interest rate PRIME + 5.95%

or Floor rate of 10.45%

 

$

3,000

 

 

 

2,847

 

 

 

2,847

 

Neos Therapeutics, Inc. (12)(13)

 

Drug Delivery

 

Senior Secured

 

October 2017

 

Interest rate PRIME + 7.25%

or Floor rate of 10.50%

 

$

5,000

 

 

 

4,916

 

 

 

4,916

 

 

 

Drug Delivery

 

Senior Secured

 

October 2017

 

Interest rate FIXED 9.00%

 

$

10,000

 

 

 

10,010